U.S. DEFICIT UP TO $53.1 BLN
BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $53.1 billion in December, up $2.7 billion from $50.4 billion in November, revised. December exports were $203.4 billion, $3.5 billion more than November exports. December imports were $256.5 billion, $6.2 billion more than November imports.
The December increase in the goods and services deficit reflected an increase in the goods deficit of $2.6 billion to $73.3 billion and a decrease in the services surplus of $0.1 billion to $20.2 billion.
For 2017, the goods and services deficit increased $61.2 billion, or 12.1 percent, from 2016. Exports increased $121.2 billion or 5.5 percent. Imports increased $182.5 billion or 6.7 percent.
Goods and Services Three-Month Moving Averages
The average goods and services deficit increased $2.8 billion to $50.8 billion for the three months ending in December.
- Average exports of goods and services increased $2.6 billion to $199.5 billion in December.
- Average imports of goods and services increased $5.4 billion to $250.3 billion in December.
Year-over-year, the average goods and services deficit increased $6.1 billion from the three months ending in December 2016.
- Average exports of goods and services increased $12.8 billion from December 2016.
- Average imports of goods and services increased $19.0 billion from December 2016.
Exports of goods increased $3.4 billion to $137.5 billion in December.
Exports of goods on a Census basis increased $3.4 billion.
- Industrial supplies and materials increased $1.5 billion.
- Organic chemicals increased $0.2 billion.
- Fuel oil increased $0.2 billion.
- Capital goods increased $1.2 billion.
- Civilian aircraft increased $0.8 billion.
- Other industrial machines increased $0.7 billion.
Net balance of payments adjustments increased less than $0.1 billion.
Exports of services increased $0.1 billion to $65.9 billion in December.
- Travel (for all purposes including education) increased $0.1 billion.
- Maintenance and repair services increased $0.1 billion.
- Transport decreased $0.1 billion.
Imports of goods increased $6.0 billion to $210.8 billion in December.
Imports of goods on a Census basis increased $5.9 billion.
- Consumer goods increased $3.2 billion.
- Pharmaceutical preparations increased $1.8 billion.
- Cell phones and other household goods increased $1.7 billion.
- Automotive vehicles, parts, and engines increased $1.1 billion.
- Passenger cars increased $1.1 billion.
- Capital goods increased $0.8 billion.
Net balance of payments adjustments increased $0.1 billion.
Imports of services increased $0.3 billion to $45.7 billion in December.
- Travel (for all purposes including education) increased $0.2 billion.
- Charges for the use of intellectual property increased $0.1 billion.
Real Goods in 2009 Dollars – Census Basis
The real goods deficit increased $2.0 billion to $68.4 billion in December.
- Real exports of goods increased $3.3 billion to $131.5 billion.
- Real imports of goods increased $5.3 billion to $199.9 billion.
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