“The goods and services deficit was $59.8 billion in December, up $9.5 billion from $50.3 billion in November, revised,” the U.S. Census Bureau and the U.S. Bureau of Economic Analysis jointly announced on Wednesday.
Key takeaways from the press release
- December exports were $205.1 billion, $3.9 billion less than November exports
- December imports were $264.9 billion, $5.5 billion more than November imports.
- The December increase in the goods and services deficit reflected an increase in the goods deficit of $9.0 billion to $81.5 billion and a decrease in the services surplus of $0.5 billion to $21.8 billion.
- For 2018, the goods and services deficit increased $68.8 billion, or 12.5 percent, from 2017. Exports increased $148.9 billion or 6.3 percent. Imports increased $217.7 billion or 7.5 percent.