Skip nav to main content.

Trade Deficit Grew in December, But Was Down Over The Year

The U.S. goods and services (trade) deficit was $48.9 billion in December, up $5.2 billion from…

  • February 27, 2020

The U.S. goods and services (trade) deficit was $48.9 billion in December, up $5.2 billion from $43.7 billion in November, revised, according to The U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

However, 2019 saw the deficit in goods and services shrink by 1.7% to $616.8 billion. It was the first yearly decrease in almost six years.

December exports were $209.6 billion, $1.6 billion more than November exports. December imports were $258.5 billion, $6.8 billion more than November imports.

The December increase in the goods and services deficit reflected an increase in the goods deficit of $5.1 billion to $69.7 billion and a decrease in the services surplus of $0.1 billion to $20.8 billion.

For 2019, the goods and services deficit decreased $10.9 billion, or 1.7 percent, from 2018. Exports decreased $1.5 billion or 0.1 percent. Imports decreased $12.5 billion or 0.4 percent.

Three-Month Moving Averages Show Decrease

However, the average goods and services deficit decreased $0.9 billion to $46.6 billion for the three months ending in December.

Goods by Selected Countries and Areas: Monthly

The December figures show surpluses, in billions of dollars, with South and Central America ($4.6), Hong Kong ($1.9), Brazil ($0.9), OPEC ($0.7), United Kingdom ($0.6), Singapore ($0.5), and Saudi Arabia ($0.3).

Deficits were recorded, in billions of dollars, with China ($25.7), European Union ($14.0), Mexico ($9.4), Germany ($5.5), Japan ($4.4), Canada ($4.4), Italy ($2.9), Taiwan ($2.4), South Korea ($1.9), India ($1.7), and France ($0.3).