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.

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.
  • Nonmonetary gold decreased $0.5 billion.
• Consumer goods decreased $0.6 billion.
  • 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 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.
  • Cell phones and other household goods decreased $1.8 billion.
  • Pharmaceutical preparations decreased $0.6 billion.
• Capital goods decreased $0.6 billion.
  • 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.

The November figures show surpluses, in billions of dollars, with South and Central America ($2.7), OPEC ($1.1), Saudi Arabia ($0.4), United Kingdom ($0.3), and Brazil ($0.1). Deficits were recorded, in billions of dollars, with China ($30.2), European Union ($12.8), Japan ($5.6), Germany ($5.5), Mexico ($5.4), Italy ($2.4), South Korea ($2.3), India ($2.1), France ($2.1), and Canada ($0.9).

The deficit with Mexico decreased $0.9 billion to $5.4 billion in November. Exports decreased $0.9 billion to $18.8 billion and imports decreased $1.8 billion to $24.2 billion.

The surplus with members of OPEC increased $0.7 billion to $1.1 billion in November. Exports increased $1.3 billion to $6.5 billion and imports increased $0.6 billion to $5.4 billion.

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.