US November international trade deficit -$63.2 billion versus -$65.0 billion estimate

<ul><li>Prior month -$64.3 billion revised to $-64.5 billion</li><li>International trade deficit $-63.2 billion versus $65.0 billion estimate</li><li>Good trade balance -$89.4BB vs -$90.27</li><li>November exports totaled $253.7 billion, a decrease of $4.8 billion from October.</li><li>November imports were $316.9 billion, down $6.1 billion from October.</li></ul><p>The goods and services deficit in November decreased due to a $0.6 billion reduction in the goods deficit (to $89.4 billion) and a $0.7 billion increase in the services surplus (to $26.2 billion).</p><p>Year-to-date, the goods and services deficit has decreased by $161.8 billion, or 18.4%, compared to the same period in 2022. Over the same period, exports increased by $28.8 billion (1.0%) and imports decreased by $133.0 billion (3.6%).</p><p>Other details:</p><p>Exports of goods decreased $5.4 billion to $168.0 billion in November.
</p><ul><li>Exports of goods on a Census basis decreased $5.6 billion.
<ul><li>Industrial supplies and materials decreased $3.6 billion.</li><li>Nonmonetary gold decreased $1.9 billion. </li><li>Crude oil decreased $1.0 billion. </li><li>Organic chemicals decreased $0.7 billion. </li></ul></li><li>Automotive vehicles, parts, and engines decreased $0.8 billion. <ul><li>Other automotive parts and accessories decreased $0.4 billion. </li><li>Trucks, buses, and special purpose vehicles decreased $0.3 billion. </li></ul></li><li>Consumer goods decreased $0.5 billion.<ul><li>Artwork and other collectibles decreased $0.5 billion.</li></ul></li></ul><p>Exports of services increased $0.6 billion to $85.7 billion in November.
• </p><ul><li>Travel increased $0.2 billion.</li><li>Other business services increased $0.1 billion.</li><li>Transport increased $0.1 billion.</li><li>Government goods and services increased $0.1 billion.</li></ul><p>Imports of goods decreased $6.0 billion to $257.4 billion in November.
</p><ul><li>Imports of goods on a Census basis decreased $5.9 billion.
• <ul><li>Consumer goods decreased $4.1 billion.
o <ul><li>Cell phones and other household goods decreased $1.9 billion.
o </li><li>Pharmaceutical preparations decreased $1.4 billion. </li></ul></li><li>Industrial supplies and materials decreased $0.8 billion.
o <ul><li>Other petroleum products decreased $0.5 billion.
o </li><li>Organic chemicals decreased $0.4 billion.
o </li><li>Crude oil increased $1.5 billion.
• </li></ul></li><li>Capital goods decreased $0.7 billion.
o </li><li>Drilling and oilfield equipment decreased $0.7 billion.
</li></ul></li></ul>

This article was written by Greg Michalowski at www.forexlive.com.