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The U.S. Balance of Trade narrowed to a $34.3bn (annualized, seasonally-adjusted) level in November, the Bureau of Economic Analysis reported today. This represents an improvement of some $4.9bn compared with the (revised) October level.
Total Exports of Goods & Services rose by $1.7bn while total Imports fell by only $3.4bn. (See table below.)
The trade deficit has move towards balance by 26% over the past twelve months.
Significant moves occurred in:
Industrial Supplies (including Crude and Petroleum products): Exports were up slightly, by $0.7bn but imports fell sharply by $4.3bn (a drop of 7.4%) from October’s level.
Automotive Vehicle imports rose by $1.0bn after having fallen by $1.0bn in October, and having risen by $0.9bn in September.
Consumer Goods exports fell by $0.5bn.
Numbers and charts for these and other sectors are available on our updated International Trade page.
| U.S. Interational Trade: Goods & Services (BoP). Seasonally Adjusted. |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| Expenditure Group | Level ($mill.) | Monthly Change ($mill.) | Mthly Chg (%) | Yr/Yr Change ($mill.) | Yr/Yr Chg (%) | ||||
| Nov. 2013 |
Sep. 2013 |
Oct. 2013 |
Nov. 2013 |
Nov. 2013 |
Sep. 2013 |
Oct. 2013 |
Nov. 2013 |
Nov. 2013 |
|
| Trade Balance | -34,252 | -4,024 | 3,641 | 5,076 | -12.9 | -1,399 | 3,322 | 12,170 | -26.2 |
| Exports | 194,857 | -267 | 3,824 | 1,721 | 0.9 | 2,483 | 10,481 | 9,637 | 5.2 |
| Imports | 229,108 | 3,757 | 183 | -3,356 | -1.4 | 3,881 | 7,160 | -2,533 | -1.1 |
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All categories still, though, remain in deficit, with the exception of Services and the sole Goods sector – Foods, Feeds & Beverages (second bar chart).
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