The U.S. monthly international trade deficit increased in December 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $34.6 billion in November (revised) to $38.7 billion in December as exports decreased and imports increased. The previously published November deficit was $34.3 billion. The goods deficit increased $4.6 billion from November to $58.8 billion in December; the services surplus increased $0.4 billion from November to $20.1 billion in December.
Exports
Exports of goods and services decreased $3.5 billion in December to $191.3 billion, reflecting a decrease in exports of goods. Exports of services increased.
- The decrease in exports of goods reflected decreases in industrial supplies and materials, in capital goods, in other goods, in automotive vehicles, parts, and engines, and in consumer goods.
- The increase in exports of services reflected increases in travel, in passenger fares, and in other transportation, which includes freight and port services.
Imports
Imports of goods and services increased $0.6 billion in December to $230.0 billion, reflecting increases in imports of both goods and services.
- The increase in imports of goods reflected increases in consumer goods, in industrial supplies and materials, and in other goods that were partly offset by decreases in automotive vehicles, parts, and engines, and in capital goods.
- The increase in imports of services reflected increases in travel and in passenger fares that were partly offset by a decrease in other transportation.
Goods by geographic area (not seasonally adjusted)
- The goods deficit with the European Union increased from $10.1 billion in November to $11.3 billion in December. Exports decreased $2.0 billion to $20.9 billion, and imports decreased $0.8 billion to $32.2 billion.
- The goods deficit with China decreased from $26.9 billion in November to $24.5 billion in December. Exports decreased $0.1 billion to $13.1 billion, and imports decreased $2.6 billion to $37.6 billion.
- The goods deficit with Canada increased from $1.5 billion in November to $3.4 billion in December. Exports decreased $2.4 billion to $23.3 billion, and imports decreased $0.5 billion to $26.7 billion.
To learn more about U.S. international trade in goods and services, read the full report.