Financial News: U.S. Trade Deficit Widens In November As Imports

U.S. Trade Deficit Widens In November As Imports Rebound More Than Exports

01/07/2025 - 09:51:00 (RTTNews)

(RTTNews) - With imports rebounding by more than exports, the Commerce Department released a report on Tuesday showing the U.S. trade deficit widened roughly in line with economist estimates in the month of November.

The Commerce Department the trade deficit increased to $78.2 billion in November from a revised $73.6 billion in October.

Economists had expected the trade deficit to climb to $78.0 billion from the $73.8 billion originally reported for the previous month.

"As expected, trade flows in both directions rebounded from October's declines, while a larger increase in imports pushed the trade deficit wider in November," said Matthew Martin, Senior U.S. Economist at Oxford Economics.

"However, net trade is on track to be slightly positive or neutral to GDP growth in Q4 - the first such occurrence since Q4 2023," he added. "There is still uncertainty baked into this forecast, though, with the potential for another dockworkers strike looming in mid-January."

The wider trade deficit came as the value of imports shot up by 3.4 percent to $351.6 billion in November after plunging by 3.9 percent to $339.9 billion in October.

The rebound by the value of imports partly reflected sharp increases by imports of industrial supplies and materials and capital goods.

Meanwhile, the Commerce Department said the value of exports jumped by 2.7 percent to $273.4 billion in November after slumping by 1.4 percent to $266.3 billion in October.

The report showed a surge by exports of industrial supplies and materials as well as increases by exports of automotive vehicles, parts and engines, capital goods and consumer goods.

The Commerce Department also said the goods deficit widened to $103.4 billion in November from $97.9 billion in October, while the services surplus rose to $25.2 billion in November from $24.3 billion in October.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Slovenia Business Confidence Improves Slightly (12 min(s), 53 sec(s) ago)
(RTTNews) - Pessimism among Slovenian businesses eased modestly in February as the confidence indi ...Full Story»

Cyprus HICP Inflation Slows In January (57 min(s), 53 sec(s) ago)
(RTTNews) - Cyprus' inflation based on the EU measure slowed in January after accelerating in ...Full Story»

Two-Year Note Auction Attracts Below Average Demand (02 hr(s), 09 min(s), 53 sec(s) ago)
(RTTNews) - The Treasury Department announced the results of this month's auction of $69 billi ...Full Story»

Belgium Business Confidence Improves Slightly (05 hr(s), 45 min(s), 53 sec(s) ago)
(RTTNews) - Belgium's business confidence rose somewhat in February amid better business condi ...Full Story»

Malta HICP Inflation Remains Stable At 1.8% (06 hr(s), 21 min(s), 53 sec(s) ago)
(RTTNews) - Malta's EU measure of inflation held steady at the start of the year after easing ...Full Story»

Latvian Jobless Rate Rises In Q4 (06 hr(s), 52 min(s), 53 sec(s) ago)
(RTTNews) - Latvia's unemployment rate increased slightly in the final quarter of 2024 after f ...Full Story»

Poland Retail Sales Expand Most In 8 Months (08 hr(s), 04 min(s), 53 sec(s) ago)
(RTTNews) - Poland's retail sales growth accelerated to the highest level in eight months in J ...Full Story»

Croatia Inflation Climbs To 10-Month High (08 hr(s), 51 min(s), 53 sec(s) ago)
(RTTNews) - Croatia's consumer price inflation accelerated further in January to the highest l ...Full Story»