Trade Deficit Widens in November on Import Growth Fueled by Consumer Goods
Imports rose significantly in November, leading to a $6.6 billion widening of the trade deficit to $48.7 billion, despite a concurrent increase in exports, said the Census Bureau and Bureau of Economic Analysis in their U.S. International Trade in Goods…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
and Services Report for November 2012. The report showed that, as compared to revised October 2012 levels, exports were up $1.7 billion to $182.6 billion, but imports rose by $8.4 billion to $231.3 billion. Consumer goods made up over half of the import growth in November. As compared to November 2011 totals, exports increased by 3.3 percent and imports by 2.5 percent. The U.S. trade deficit with China fell to $29 billion in November, from a revised $29.5 billion in October.