Goods Exports Decreased in 4th Quarter 2014

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The Bureau of Economic Analysis released its 4th Quarter Report on international transactions. Here is an excerpt showing how goods exports decreased and the trade deficit worsened.

Goods and services

      The deficit on goods and services increased to $127.0 billion in the fourth quarter from
$123.9 billion in the third quarter.

      Goods  The deficit on goods increased to $185.2 billion in the fourth quarter from
$181.1 billion in the third quarter.

      Goods exports decreased to $410.1 billion from $415.0 billion. Exports decreased in three
of the six major general-merchandise end-use categories. The largest decrease was in industrial
supplies and materials; exports also decreased in automotive vehicles, parts, and engines and
in consumer goods except food and automotive. The decrease in industrial supplies and
materials—which more than accounted for the total decrease in general merchandise exports—
mostly reflected a decrease in exports of petroleum and products. The decrease in automotive
vehicles, parts, and engines was more than accounted for by a decrease in exports of passenger
cars. Exports increased in nonmonetary gold and in three major general-merchandise end-use
categories. The largest general-merchandise increase was in foods, feeds, and beverages; the
increase was more than accounted for by an increase in exports of soybeans, which was partly
offset by a decrease in exports of grains and preparations (ITA Table 2.1).

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