The U.S. monthly international trade deficit increased in November 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $42.4 billion in October (revised) to $45.2 billion in November, as exports decreased and imports increased. The previously published October deficit was $42.6 billion. The goods deficit increased $3.4 billion in November to $66.6 billion. The services surplus increased $0.5 billion in November to $21.4 billion.
Exports
Exports of goods and services decreased $0.4 billion, or 0.2 percent, in November to $185.8 billion. Exports of goods decreased $0.7 billion and exports of services increased $0.3 billion.
- The decrease in exports of goods mostly reflected a decrease in capital goods ($1.8 billion). An increase in industrial supplies and materials ($1.5 billion) partly offset the decrease.
- The increase in exports of services reflected increases in financial services ($0.2 billion) and in travel (for all purposes including education) ($0.1 billion).
Imports
Imports of goods and services increased $2.4 billion, or 1.1 percent, in November to $231.1 billion. Imports of goods increased $2.7 billion and imports of services decreased $0.3 billion.
- The increase in imports of goods mostly reflected an increase in industrial supplies and materials ($2.2 billion).
- The decrease in imports of services reflected decreases in travel (for all purposes including education) ($0.2 billion) and in transport ($0.1 billion), which includes freight and port services and passenger fares.
For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services: November 2016.