The U.S. international trade in goods and services, also known as the FT-900, is published monthly by the Bureau of Economic Analysis with data going back to 1992. The monthly reports include revisions that go back several months. This trade balance measures the difference in value between imported and exported goods and services.
Here is an excerpt from the latest report:
The U.S. monthly international trade deficit increased in November 2024 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $73.6 billion in October (revised) to $78.2 billion in November, as imports increased more than exports. The goods deficit increased $5.4 billion in November to $103.4 billion. The services surplus increased $0.9 billion in November to $25.2 billion.
In November, the trade deficit expanded 6.2% to -$78.19B. The latest reading was better than the forecast of -$78.30B.
This indicator is somewhat volatile, with an 8.6% absolute average monthly change. The latest data point saw a 6.2% month-over-month change. Here is a snapshot that gives a better sense of the extreme volatility of this indicator.
As mentioned earlier, the trade balance measures the difference in value between imported and exported goods and services. In November, imports increased by $11.6 billion (3.42%) to $352.60B while exports increased by $7.1 billion (2.65%) to $273.37B. Since exports increased more than imports did, the trade deficit decreased.
