International Trade Deficit Increases 15.7%
Jan 11th 2013 12:43PM
Updated Jan 11th 2013 2:10PM
The U.S. international trade deficit worsened by 15.7% to $48.7 billion for November, according to a Department of Commerce report [link opens in PDF] released today.
Market analysts had expected a slight improvement in the deficit to $41.1 billion after October's widening trade gap.
While the services surplus remained steady at $17 billion, the goods deficit increased 11% to $65.7 billion.
Compared to November 2011, the overall deficit decreased by just $100 million. Imports have risen 2.5%, while exports have improved by 3.3%. In the last year, exports of capital goods, automotive vehicles and parts, and foods and beverages have increased the most. In the same period of time, industrial supplies and materials exports experienced the largest decrease. Since November 2011, Americans have increased imports most in the automotive and consumer goods sectors, while industrial supplies and materials imports fell.
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