November 2023 Trade Gap is $63.2 Billion

The U.S. goods and services trade deficit decreased from $64.5 billion in October (revised) to $63.2 billion in November, as imports decreased more than exports. The goods deficit decreased $0.6 billion to $89.4 billion, and the services surplus increased $0.7 billion to $26.2 billion.

Exports of goods and services decreased $4.8 billion, or 1.9 percent, in November to $253.7 billion. Exports of goods decreased $5.4 billion, and exports of services increased $0.6 billion.

• The decrease in exports of goods reflected decreases in industrial supplies and materials ($3.6 billion), in automotive vehicles, parts, and engines ($0.8 billion), and in consumer goods ($0.5 billion).
• The increase in exports of services reflected increases in travel ($0.2 billion), in other business services ($0.1 billion), in transport ($0.1 billion), and in government goods and services ($0.1 billion).

Imports of goods and services decreased $6.1 billion, or 1.9 percent, in November to $316.9 billion. Imports of goods decreased $6.0 billion, and imports of services decreased $0.1 billion.

• The decrease in imports of goods reflected a decrease in consumer goods ($4.1 billion), in industrial supplies and materials ($0.8 billion), and in capital goods ($0.7 billion).
• The decrease in imports of services mainly reflected a decrease in transport ($0.5 billion). An increase in travel ($0.3 billion) partly offset the decrease.