Manufacturing & The Economy
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced that total December exports of $186.4 billion and imports of $224.9 billion resulted in a goods and services deficit of $38.5 billion, down from $48.6 billion in November, revised. December exports were $3.9 billion more than November exports of $182.5 billion. December imports were $6.2 billion less than November imports of $231.1 billion.
In December, the goods deficit decreased $9.4 billion from November to $56.2 billion, and the services surplus increased $0.7 billion from November to $17.7 billion. Exports of goods increased $3.3 billion to $132.6 billion, and imports of goods decreased $6.1 billion to $188.8 billion. Exports of services increased $0.6 billion to $53.8 billion, and imports of services decreased $0.1 billion to $36.1 billion.
The goods and services deficit decreased $13.2 billion from December 2011 to December 2012. Exports were up $8.6 billion, or 4.9%, and imports were down $4.6 billion, or 2%.