- Prior month -$63.2 billion revised to -$61.9B
- US trade deficit for December -$62.2B vs $-62.2 billion estimate
- Good trade balance -$87.89 versus $-89.4 billion less than
- December exports totaled $258.2B up $3.1 billion which is +1.5% on the month
- December imports totaled $320.4B up $3.8 billion which is 1.3% on the month
Export details from the Census bureau:
The exports of goods from the United States saw a significant increase, with total goods exports rising by $3.1 billion to reach $171.2 billion. On a Census basis, the increase was even higher at $4.2 billion. This growth was driven by several sectors:
- Industrial supplies and materials experienced a substantial increase of $3.3 billion, highlighted by gains in nonmonetary gold ($0.9 billion), other petroleum products ($0.8 billion), and crude oil ($0.6 billion).
- Consumer goods exports grew by $0.7 billion, indicating a robust demand for American consumer products abroad.
- Foods, feeds, and beverages also saw a notable increase of $0.7 billion, reflecting the global appetite for American agricultural products.
However, the net balance of payments adjustments saw a decrease of $1.1 billion.
Additionally, exports of services in December increased by $0.8 billion to $87.0 billion. This growth in services exports was supported by:
- A $0.4 billion increase in travel services, suggesting a rebound in international travel.
- A $0.2 billion rise in transport services, indicating more goods being shipped internationally.
- A $0.2 billion increase in financial services, reflecting the global demand for American financial expertise and services.
Overall, the data indicates a robust performance in both goods and services exports, highlighting the diverse strengths of the U.S. economy in the global market.
Import details from the Census Bureau:
In December, the United States saw a notable increase in its imports of goods, with the total reaching $260.3 billion, an increase of $3.8 billion from the previous period. The rise on a Census basis was slightly lower at $3.7 billion, driven primarily by significant sectors:
Consumer goods led the surge in imports, increasing by $3.3 billion. This was largely due to substantial increases in pharmaceutical preparations ($1.5 billion) and cell phones and other household goods ($1.0 billion), indicating strong domestic demand for these products.
Industrial supplies and materials also saw an increase, amounting to $1.2 billion. Within this category, fuel oil and nuclear fuel materials each contributed to the growth with increases of $0.4 billion. Interestingly, imports of crude oil moved in the opposite direction, decreasing by $0.4 billion, reflecting shifts in the U.S. energy import patterns.
This summary of imports highlights the U.S.'s continued reliance on and demand for foreign goods, particularly in consumer and industrial sectors, while also noting specific changes in energy imports.
In December, the exports of goods from the United States saw a significant increase, with total goods exports rising by $3.1 billion to reach $171.2 billion. On a Census basis, the increase was even higher at $4.2 billion. This growth was driven by several sectors:
- Industrial supplies and materials experienced a substantial increase of $3.3 billion, highlighted by gains in nonmonetary gold ($0.9 billion), other petroleum products ($0.8 billion), and crude oil ($0.6 billion).
- Consumer goods exports grew by $0.7 billion, indicating a robust demand for American consumer products abroad.
- Foods, feeds, and beverages also saw a notable increase of $0.7 billion, reflecting the global appetite for American agricultural products.
However, the net balance of payments adjustments saw a decrease of $1.1 billion.
Additionally, exports of services in December increased by $0.8 billion to $87.0 billion. This growth in services exports was supported by:
- A $0.4 billion increase in travel services, suggesting a rebound in international travel.
- A $0.2 billion rise in transport services, indicating more goods being shipped internationally.
- A $0.2 billion increase in financial services, reflecting the global demand for American financial expertise and services.
Overall, the data indicates a robust performance in both goods and services exports, highlighting the diverse strengths of the U.S. economy in the global market.
