US goods and services trade deficit
- Prior month $61.0 billion
- international trade balance for December 2023 comes in at -$67.4 billion. The expectations was for -$68.5 billion
- the goods trade deficit came in at $-89.67 billion
- export came in at $250.2 billion which was $-2.2 billion less than Novembers exports
- imports were $317.6 billion which was 4.2 billion more than November imports
- The December increasing the goods and services deficit reflected an increase in goods deficit of $7.4 billion to $90.6 billion and an increase in the services a surplus of $1 billion to $23.2 billion
For all of 2022:
- goods and services deficit increase $103 billion or 12.2% from 2021
- exports increased $453.1 billion or 17.7%
- imports increased $556.1 billion or 16.3%
- The combination reflects a rebound from 2021 which was partially impacted from covert and supply-chain issues
three month averages:
- average exports over the last three months at decreased by -$2.6 billion to $253 billion in December
- average imports over the last three months decreased $-4.7 billion to $321.6 billion in December
For the full report click here.
The Atlanta Fed will be released their latest estimate from their model for GDP in the first quarter later today. The trade deficit is part of that calculation.