FOR RELEASE AT 8:30 AM EST, TUESDAY, JANUARY 7, 2025 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES, NOVEMBER 2024 Release Number: CB 25-05, BEA 25-01 January 7, 2025 — The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.2 billion in November, up $4.6 billion from $73.6 billion in October, revised. Deficit: Exports: Imports: $78.2 Billion $273.4 Billion $351.6 Billion +6.2%° +2.7%° +3.4%° U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES DEFICIT Next release: Wednesday, February 5, 2025 (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes. Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, January 7, 2025. Exports, Imports, and Balance (Exhibit 1) November exports were $273.4 billion, $7.1 billion more than October exports. November imports were $351.6 billion, $11.6 billion more than October imports. The November increase in the goods and services deficit reflected an increase in the goods deficit of $5.4 billion to $103.4 billion and an increase in the services surplus of $0.9 billion to $25.2 billion. Year-to-date, the goods and services deficit increased $93.9 billion, or 13.0 percent, from the same period in 2023. Exports increased $111.5 billion or 4.0 percent. Imports increased $205.3 billion or 5.8 percent. Three-Month Moving Averages (Exhibit 2) The average goods and services deficit increased $2.5 billion to $78.5 billion for the three months ending in November.
Average exports increased $0.2 billion to $269.9 billion in November.
Average imports increased $2.8 billion to $348.4 billion in November. Year-over-year, the average goods and services deficit increased $14.8 billion from the three months ending in November 2023.
Goods Data Inquiries U.S. Census Bureau
Economic Indicators Division, International Trade 301-763-2311 eid.international.trade.data@census.gov Goods Media Inquiries U.S. Census Bureau Public Information Office 301-763-3030 pio@census.gov Services Data and Media Inquiries U.S. Bureau of Economic Analysis Balance of Payments Division Data: 301-278-9559 Media: 301-278-9003 InternationalAccounts@bea.gov
