November 2020 Trade Gap is $68.1 Billion

January 7, 2021

The U.S. monthly international trade deficit increased in November 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $63.1 billion in October (revised) to $68.1 billion in November, as imports increased more than exports. The previously published October deficit was $63.1 billion. The goods deficit increased $5.0 billion in November to $86.4 billion. The services surplus decreased less than $0.1 billion in November to $18.2 billion.

Exports
Exports of goods and services increased $2.2 billion, or 1.2 percent, in November to $184.2 billion. Exports of goods increased $1.3 billion and exports of services increased $0.9 billion.

• The increase in exports of goods reflected increases in industrial supplies and materials ($0.8 billion) and in foods, feeds, and beverages ($0.5 billion).
• The increase in exports of services reflected increases in travel ($0.5 billion) and in transport ($0.3 billion).

Imports
Imports of goods and services increased $7.2 billion, or 2.9 percent, in November to $252.3 billion. Imports of goods increased $6.3 billion and imports of services increased $0.9 billion.

• The increase in imports of goods reflected increases in consumer goods ($4.0 billion), in industrial supplies and materials ($1.5 billion), and in capital goods ($1.2 billion). A decrease in automotive vehicles, parts, and engines ($1.0 billion) partly offset the increases.
• The increase in imports of services reflected increases in transport ($0.4 billion) and in travel ($0.4 billion).

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