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  4. November 2015 Trade Gap is $42.4 Billion

November 2015 Trade Gap is $42.4 Billion

January 6, 2016

The U.S. monthly international trade deficit decreased in November 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $44.6 billion in October (revised) to $42.4 billion in November, as exports decreased less than imports. The previously published October deficit was $43.9 billion. The goods deficit decreased $2.3 billion from October to $61.3 billion in November. The services surplus decreased $0.1 billion from October to $18.9 billion in November.

Balance on Goods and Services Trade Chart

Exports
Exports of goods and services decreased $1.6 billion, or 0.9 percent, in November to $182.2 billion. Exports of goods decreased $1.4 billion and exports of services decreased $0.1 billion.

  • The decrease in exports of goods mainly reflected decreases in other goods ($0.7 billion), in industrial supplies and materials ($0.7 billion), and in consumer goods ($0.6 billion).
  • The decrease in exports of services mainly reflected decreases in transport ($0.1 billion), which includes freight and port services and passenger fares, and in government goods and services ($0.1 billion).

Imports
Imports of goods and services decreased $3.8 billion, or 1.7 percent, in November to $224.6 billion. Imports of goods decreased $3.7 billion and imports of services decreased $0.1 billion.

  • The decrease in imports of goods mainly reflected decreases in consumer goods ($3.0 billion) and in capital goods ($0.6 billion).
  • The decrease in imports of services mainly reflected a decrease in travel (for all purposes including education) ($0.1 billion).

Goods by geographic area (seasonally adjusted, Census basis)

  • The deficit with Mexico decreased from $6.3 billion in October to $5.4 billion in November. Exports decreased $0.9 billion to $18.8 billion and imports decreased $1.8 billion to $24.2 billion.
  • The surplus with members of OPEC increased from $0.4 billion in October to $1.1 billion in November. Exports increased $1.3 billion to $6.5 billion and imports increased $0.6 billion to $5.4 billion.
  • The deficit with Canada increased from $0.4 billion in October to $0.9 billion in November. Exports decreased $0.1 billion to $22.7 billion and imports increased $0.4 billion to $23.5 billion.

For more information, read the full report.