Why the U.S. Trade Deficit Unexpectedly Narrowed

Merchandise imports remain elevated, but U.S. exports of services climbed in November to a record $85.7 billion.

By Mark Niquette | January 10, 2024 at 08:39 AM

The U.S. trade deficit unexpectedly narrowed in November, driven by a pickup in services exports and a slight decline in imports of merchandise.

The deficit in goods and services trade shrank 2 percent from the prior month, to $63.2 billion, Commerce Department data showed Tuesday. The median estimate in a Bloomberg survey of economists called for a $64.9 billion gap.

The value of imports and exports each decreased 1.9 percent. The figures aren't adjusted for inflation.

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Fed Lowers Interest Rates by a Quarter Point

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By Catarina Saraiva | December 16, 2024

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