Trade Deficit Widened by $0.3 Billion in December

Washington, DC, February 7, 2024-The goods and services deficit was $62.2 billion in December, up $0.3 billion from $61.9 billion in November, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.

December exports were $258.2 billion, $3.9 billion more than November exports. December imports were $320.4 billion, $4.2 billion more than November imports.

The December increase in the goods and services deficit reflected an increase in the goods deficit of $0.7 billion to $89.1 billion and an increase in the services surplus of $0.4 billion to $26.9 billion.

For 2023, the goods and services deficit decreased $177.8 billion, or 18.7%, from 2022. Exports increased $35.0 billion or 1.2%. Imports decreased $142.7 billion or 3.6%.