Exports continue declining despite trade deals and Obama export surge promises

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Stumo note: The Census Bureau BEA reported today that US exports continued their decline in November. The trade deficit widened over November 2014. Imports were down as well, causing the trade deficit to actually improve a bit over October. Low energy prices were a big part of the reduced import number.  See the full report below.

U.S. Census Bureau
U.S. Bureau of Economic Analysis
NEWS
U.S. Department of Commerce * Washington, DC 20230
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
NOVEMBER 2015

Link to original

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of
Commerce, announced today that the goods and services deficit was $42.4 billion in November,
down $2.2 billion from $44.6 billion in October, revised. November exports were $182.2 billion,
$1.6 billion less than October exports. November imports were $224.6 billion, $3.8 billion less
than October imports.

The November decrease in the goods and services deficit reflected a decrease in the goods deficit
of $2.3 billion to $61.3 billion and a decrease in the services surplus of $0.1 billion to $18.9
billion.

Year-to-date, the goods and services deficit increased $25.2 billion, or 5.5 percent, from the
same period in 2014. Exports decreased $99.0 billion or 4.6 percent. Imports decreased $73.7
billion or 2.8 percent.

Goods and Services Three-Month Moving Averages (Exhibit 2)

The average goods and services deficit decreased $2.1 billion to $43.1 billion for the three
months ending in November.
   * Average exports of goods and services decreased $0.7 billion to $184.3 billion in November.
   * Average imports of goods and services decreased $2.8 billion to $227.4 billion in November.

Year-over-year, the average goods and services deficit increased $1.2 billion from the three
months ending in November 2014.
   * Average exports of goods and services decreased $12.1 billion from November 2014.
   * Average imports of goods and services decreased $10.9 billion from November 2014.

Exports (Exhibits 3, 6, and 7)

Exports of goods decreased $1.4 billion to $122.2 billion in November.
   Exports of goods on a Census basis decreased $1.9 billion.
      * Other goods decreased $0.7 billion.
      * Industrial supplies and materials decreased $0.7 billion.
         o Nonmonetary gold decreased $0.5 billion.
      * Consumer goods decreased $0.6 billion.
         o Cell phones and other household goods decreased $0.3 billion.
   Net balance of payments adjustments increased $0.5 billion.

Exports of services decreased $0.1 billion to $60.0 billion in November.
   * Transport, which includes freight and port services and passenger fares, decreased $0.1
     billion.
   * Government goods and services decreased $0.1 billion.
   * Other business services, which includes research and development services; professional
     and management services; and technical, trade-related, and other services, increased $0.1
     billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $3.7 billion to $183.5 billion in November.
   Imports of goods on a Census basis decreased $3.5 billion.
      * Consumer goods decreased $3.0 billion.
         o Cell phones and other household goods decreased $1.8 billion.
         o Pharmaceutical preparations decreased $0.6 billion.
      * Capital goods decreased $0.6 billion.
         o Computers decreased $0.3 billion.
   Net balance of payments adjustments decreased $0.2 billion.

Imports of services decreased $0.1 billion to $41.1 billion in November.
   * Travel (for all purposes including education) decreased $0.1 billion.

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