MONTHLY U.S. INTERNATIONAL TRADE IN GOODS AND …
FOR RELEASE AT 8:30 AM EST, TUESDAY, JANUARY 9, 2024
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES, NOVEMBER 2023
Release Number: CB 24-04, BEA 24-01 January 9, 2024 -- The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $63.2 billion in November, down $1.3 billion from $64.5 billion in October, revised.
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES DEFICIT
Deficit:
$63.2 Billion
-2.0%?
Exports:
$253.7 Billion
-1.9%?
Imports:
$316.9 Billion
-1.9%?
Next release: Wednesday, February 7, 2024
(?) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes.
Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, January 9, 2024.
Exports, Imports, and Balance (Exhibit 1) November exports were $253.7 billion, $4.8 billion less than October exports. November imports were $316.9 billion, $6.1 billion less than October imports.
The November decrease in the goods and services deficit reflected a decrease in the goods deficit of $0.6 billion to $89.4 billion and an increase in the services surplus of $0.7 billion to $26.2 billion.
Year-to-date, the goods and services deficit decreased $161.8 billion, or 18.4 percent, from the same period in 2022. Exports increased $28.8 billion or 1.0 percent. Imports decreased $133.0 billion or 3.6 percent.
Three-Month Moving Averages (Exhibit 2) The average goods and services deficit increased $1.5 billion to $62.9 billion for the three months ending in November.
? Average exports decreased $0.6 billion to $257.9 billion in November. ? Average imports increased $0.9 billion to $320.9 billion in November.
Goods Data Inquiries U.S. Census Bureau Economic Indicators Division, International Trade 301-763-2311 eid.international.trade.data@
Goods Media Inquiries U.S. Census Bureau Public Information Office 301-763-3030 pio@
Services Data and Media Inquiries U.S. Bureau of Economic Analysis Balance of Payments Division Data: 301-278-9559 Media: 301-278-9003 InternationalAccounts@
Year-over-year, the average goods and services deficit decreased $8.3 billion from the three months ending in November 2022.
? Average exports increased $1.9 billion from November 2022. ? Average imports decreased $6.5 billion from November 2022.
Exports (Exhibits 3, 6, and 7) Exports of goods decreased $5.4 billion to $168.0 billion in November.
Exports of goods on a Census basis decreased $5.6 billion.
? Industrial supplies and materials decreased $3.6 billion. o Nonmonetary gold decreased $1.9 billion. o Crude oil decreased $1.0 billion. o Organic chemicals decreased $0.7 billion.
? Automotive vehicles, parts, and engines decreased $0.8 billion. o Other automotive parts and accessories decreased $0.4 billion. o Trucks, buses, and special purpose vehicles decreased $0.3 billion.
? Consumer goods decreased $0.5 billion. o Artwork and other collectibles decreased $0.5 billion.
Net balance of payments adjustments increased $0.1 billion.
Exports of services increased $0.6 billion to $85.7 billion in November. ? Travel increased $0.2 billion. ? Other business services increased $0.1 billion. ? Transport increased $0.1 billion. ? Government goods and services increased $0.1 billion.
Imports (Exhibits 4, 6, and 8) Imports of goods decreased $6.0 billion to $257.4 billion in November.
Imports of goods on a Census basis decreased $5.9 billion.
? Consumer goods decreased $4.1 billion. o Cell phones and other household goods decreased $1.9 billion. o Pharmaceutical preparations decreased $1.4 billion.
Goods Data Inquiries U.S. Census Bureau Economic Indicators Division, International Trade 301-763-2311 eid.international.trade.data@
Goods Media Inquiries U.S. Census Bureau Public Information Office 301-763-3030 pio@
Services Data and Media Inquiries U.S. Bureau of Economic Analysis Balance of Payments Division Data: 301-278-9559 Media: 301-278-9003 InternationalAccounts@
? Industrial supplies and materials decreased $0.8 billion. o Other petroleum products decreased $0.5 billion. o Organic chemicals decreased $0.4 billion. o Crude oil increased $1.5 billion.
? Capital goods decreased $0.7 billion. o Drilling and oilfield equipment decreased $0.7 billion.
Net balance of payments adjustments decreased $0.1 billion.
Imports of services decreased $0.1 billion to $59.6 billion in November. ? Transport decreased $0.5 billion. ? Travel increased $0.3 billion.
Real Goods in 2017 Dollars ? Census Basis (Exhibit 11) The real goods deficit decreased $2.3 billion, or 2.7 percent, to $84.8 billion in November, compared to a 0.4 percent decrease in the nominal deficit.
? Real exports of goods decreased $3.3 billion, or 2.3 percent, to $140.6 billion, compared to a 3.2 percent decrease in nominal exports.
? Real imports of goods decreased $5.7 billion, or 2.4 percent, to $225.5 billion, compared to a 2.3 percent decrease in nominal imports.
Revisions Revisions to October exports
? Exports of goods were revised down $0.1 billion. ? Exports of services were revised down $0.1 billion.
Revisions to October imports ? Imports of goods were revised up $0.1 billion. ? Imports of services were revised down $0.1 billion.
Goods by Selected Countries and Areas: Monthly ? Census Basis (Exhibit 19) The November figures show surpluses, in billions of dollars, with South and Central America ($4.1), Netherlands ($3.0), Hong Kong ($1.8), Australia ($1.4), United Kingdom ($0.6), Singapore ($0.4), Belgium ($0.2), and Brazil (less than $0.1). Deficits were recorded, in billions of dollars, with China ($21.5), European Union ($15.6), Mexico ($13.8), Vietnam ($9.7), Canada ($7.8), Japan ($7.1), Germany ($5.6),
Goods Data Inquiries U.S. Census Bureau Economic Indicators Division, International Trade 301-763-2311 eid.international.trade.data@
Goods Media Inquiries U.S. Census Bureau Public Information Office 301-763-3030 pio@
Services Data and Media Inquiries U.S. Bureau of Economic Analysis Balance of Payments Division Data: 301-278-9559 Media: 301-278-9003 InternationalAccounts@
Taiwan ($4.6), Ireland ($4.4), India ($4.0), Italy ($3.6), South Korea ($3.5), Switzerland ($2.3), Malaysia ($1.7), France ($0.6), Israel ($0.4), and Saudi Arabia ($0.1).
? The deficit with the European Union decreased $3.5 billion to $15.6 billion in November. Exports increased $1.3 billion to $30.7 billion and imports decreased $2.3 billion to $46.4 billion.
? The deficit with China decreased $2.4 billion to $21.5 billion in November. Exports decreased $1.8 billion to $11.9 billion and imports decreased $4.2 billion to $33.4 billion.
? The deficit with Switzerland increased $2.0 billion to $2.3 billion in November. Exports decreased $2.5 billion to $1.4 billion and imports decreased $0.5 billion to $3.7 billion.
All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in Exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The full release can be found at foreign-trade/Press-Release/current_press_release/index.html or data/intl-trade-investment/international-trade-goods-and-services. The December 2023 U.S. International Trade in Goods and Services report is scheduled for release on February 7, 2024. The full schedule is available in the Census Bureau's Economic Briefing Room at economicindicators or on BEA's website at news/schedule.
Goods Data Inquiries U.S. Census Bureau Economic Indicators Division, International Trade 301-763-2311 eid.international.trade.data@
Goods Media Inquiries U.S. Census Bureau Public Information Office 301-763-3030 pio@
Services Data and Media Inquiries U.S. Bureau of Economic Analysis Balance of Payments Division Data: 301-278-9559 Media: 301-278-9003 InternationalAccounts@
EXPLANATORY NOTES
Goods (Census Basis) Data for goods on a Census basis are compiled from the documents collected by U.S. Customs and Border Protection (CBP) and reflect the movement of goods between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and U.S. Foreign Trade Zones. They include government and non-government shipments of goods and exclude shipments between the United States and its territories and possessions; transactions with U.S. military, diplomatic, and consular installations abroad; U.S. goods returned to the United States by its Armed Forces; personal and household effects of travelers; and in-transit shipments. The General Imports value reflects the total arrival of merchandise from foreign countries that immediately enters consumption channels, warehouses, or Foreign Trade Zones.
For imports, the value reported is the CBP-appraised value of merchandise--generally, the price paid for merchandise for export to the United States. Import duties, freight, insurance, and other charges incurred in bringing merchandise to the United States are excluded. The exception is Exhibit 17a, which shows CIF import value. The CIF (cost, insurance, and freight) value represents the landed value of the merchandise at the first port of arrival in the United States. It is computed by adding import charges to the customs value and therefore excludes U.S. import duties.
Exports are valued at the f.a.s. (free alongside ship) value of merchandise at the U.S. port of export, based on the transaction price including inland freight, insurance, and other charges incurred in placing the merchandise alongside the carrier at the U.S. port of exportation.
Revision Procedure (Census Basis)
Monthly Revisions: Monthly data include actual month's transactions as well as a small number of transactions for previous months. Each month, the U.S. Census Bureau revises the aggregate seasonally adjusted (nominal and real, or chained-dollar) and unadjusted export, import, and trade balance figures, as well as the end-use totals for the prior month. Country detail data and commodity detail data, based on the Standard International Trade Classification (SITC) Revision 4 and the North American Industry Classification System (NAICS), are not revised monthly. The timing adjustment shown in Exhibit 14 is the difference between monthly data as originally reported and as recompiled.
Goods Data Inquiries U.S. Census Bureau Economic Indicators Division, International Trade 301-763-2311 eid.international.trade.data@
Goods Media Inquiries U.S. Census Bureau Public Information Office 301-763-3030 pio@
Services Data and Media Inquiries U.S. Bureau of Economic Analysis Balance of Payments Division Data: 301-278-9559 Media: 301-278-9003 InternationalAccounts@
................
................
In order to avoid copyright disputes, this page is only a partial summary.
To fulfill the demand for quickly locating and searching documents.
It is intelligent file search solution for home and business.
Related searches
- u s treasury rates and bonds
- u s bank international wire transfer
- today s international news in english
- international trade advantages and disadvantages
- u s submarines in ww2
- u s dollars in pounds
- at t next trade in terms and conditions
- the u s constitution and amendments
- god in the u s constitution
- u s marines in vietnam
- colorado and u s constitution article 5
- u s presidents and vice presidents