The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced Tuesday that total November exports of $194.9 billion and imports of $229.1 billion resulted in a goods and services deficit of $34.3 billion, down from $39.3 billion in October, revised. November exports were $1.7 billion more than October exports of $193.1 billion. November imports were $3.4 billion less than October imports of $232.5 billion.
In November, the goods deficit decreased $4.9 billion from October to $53.9 billion, and the services surplus increased $0.2 billion from October to $19.7 billion. Exports of goods increased $1.5 billion to $137.1 billion, and imports of goods decreased $3.4 billion to $191.0 billion. Exports of services increased $0.3 billion to $57.8 billion, and imports of services increased $0.1 billion to $38.1 billion.
The goods and services deficit decreased $12.2 billion from November 2012 to November 2013. Exports were up $9.6 billion, or 5.2 percent, and imports were down $2.5 billion, or 1.1 percent.
The October to November increase in exports of goods reflected increases in industrial supplies and materials ($0.7 billion); other goods ($0.5 billion); capital goods ($0.3 billion); and automotive vehicles, parts, and engines ($0.1 billion). Decreases occurred in consumer goods ($0.5 billion) and foods, feeds, and beverages ($0.1 billion).
The October to November decrease in imports of goods reflected decreases in industrial supplies and materials ($4.3 billion); other goods ($0.8 billion); foods, feeds, and beverages ($0.3 billion); and consumer goods ($0.1 billion). Increases occurred in automotive vehicles, parts, and engines ($1.1 billion) and capital goods ($0.9 billion). The November 2012 to November 2013 increase in exports of goods reflected increases in industrial supplies and materials ($3.1 billion); capital goods ($1.2 billion); foods, feeds, and beverages ($1.1 billion); automotive vehicles, parts, and engines ($0.8 billion); other goods ($0.6 billion); and consumer goods ($0.5 billion).