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February 14, 2008
International Trade Deficit: 58.8 billion (-4.3 billion)
(February 14, 2008) - The Department of Commerce released its U.S. International Trade in Goods and Services Report this morning for December 2007, reporting that total December exports of $144.3 billion and imports of $203.1 billion resulted in a $58.8 billion goods and services deficit, down from from the revised November estimate of $63.1 billion. December exports were $2.2 billion more than November exports of $142.2 billion; December imports were $2.2 billion less than November imports of $205.3 billion.
In December, the goods deficit decreased $4.6 billion from November to $68.2 billion, and the services surplus decreased $0.2 billion to $9.5 billion. Exports of goods increased $2.3 billion to $103.1 billion, and imports of goods decreased $2.3 billion to $171.3 billion. Exports of services decreased $0.1 billion to $41.2 billion, and imports of services increased $0.1 billion to $31.8 billion.
In December, the goods and services deficit was down $1.5 billion from December 2006. Exports were up $17.2 billion, or 13.6%, and imports were up $15.7 billion, or 8.4%.
JR
Posted by John Rutledge at February 14, 2008 9:55 PM
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