The U.S. monthly international trade deficit decreased in December 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $69.0 billion in November (revised) to $66.6 billion in December, as exports increased more than imports. The previously published November deficit was $68.1 billion. The goods deficit decreased $2.8 billion in December to $84.2 billion. The services surplus decreased $0.4 billion in December to $17.5 billion.
Exports
Exports of goods and services increased $6.2 billion, or 3.4 percent, in December to $190.0 billion. Exports of goods increased $6.0 billion and exports of services increased $0.3 billion.
- The increase in exports of goods reflected increases in industrial supplies and materials ($1.8 billion), in foods, feeds, and beverages ($1.4 billion), in capital goods ($1.1 billion), and in automotive vehicles, parts, and engines ($0.9 billion).
- The increase in exports of services reflected an increase in travel ($0.2 billion).
Imports
Imports of goods and services increased $3.8 billion, or 1.5 percent, in December to $256.6 billion. Imports of goods increased $3.1 billion and imports of services increased $0.7 billion.
- The increase in imports of goods reflected increases in industrial supplies and materials ($2.7 billion) and in automotive vehicles, parts, and engines ($2.0 billion). A decrease in consumer goods ($1.9 billion) partly offset the increases.
- The increase in imports of services reflected increases in travel ($0.5 billion) and in transport ($0.2 billion).
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