Is the U.S. Trade Deficit Falling?
The U.S. trade deficit dropped during the time before the recent government shutdown, according to data from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.
Specifically, the goods and services deficit was $49.3 billion in November 2018, down $6.4 billion from $55.7 billion last October, revised.
November exports were $209.9 billion, $1.3 billion less than October exports. November imports were $259.2 billion, $7.7 billion less than October imports.
The November decrease in the goods and services deficit reflected a decrease in the goods deficit of $6.7 billion to $71.6 billion and a decrease in the services surplus of $0.3 billion to $22.3 billion.
Year-to-date, the goods and services deficit increased $51.9 billion, or 10.4 percent, from the same period in 2017.
Exports increased $157.1 billion or 7.3 percent. Imports increased $208.9 billion or 7.9 percent.