NEWS - Local Breaking News

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total December exports of $142.7 billion and imports of $182.9 billion resulted in a goods and services deficit of $40.2 billion, up from $36.4 billion in November, revised. December exports were $4.6 billion more than November exports of $138.1 billion. December imports were $8.4 billion more than November imports of $174.5 billion.

In December, the goods deficit increased $3.4 billion from November to $51.8 billion,

and the services surplus decreased $0.4 billion to $11.7 billion. Exports of goods

increased $4.6 billion to $99.1 billion, and imports of goods increased $8.1 billion

to $150.9 billion. Exports of services were virtually unchanged at $43.6 billion, and

imports of services increased $0.3 billion to $31.9 billion.

In December, the goods and services deficit decreased $1.7 billion from December 2008.Exports were up $9.8 billion, or 7.4 percent, and imports were up $8.1 billion, or 4.6percent.

Goods (Census basis)

The November to December increase in exports of goods reflected increases in capital goods ($1.8 billion); industrial supplies and materials ($1.6 billion); automotive vehicles, parts, and engines ($0.9 billion); other goods ($0.3 billion); and consumer goods ($0.3 billion). Foods, feeds, and beverages were virtually unchanged.

The November to December increase in imports of goods reflected increases in industrial supplies and materials ($4.4 billion); automotive vehicles, parts, and engines ($1.6 billion); capital goods ($1.6 billion); foods, feeds, and beverages ($0.3 billion); and other goods ($0.2 billion). Consumer goods were virtually unchanged.

The December 2008 to December 2009 increase in exports of goods reflected increases in industrial supplies and materials ($5.5 billion); foods, feeds, and beverages ($1.8 billion); automotive vehicles, parts, and engines ($1.4 billion); consumer goods ($0.7 billion); and capital goods ($0.7 billion). Other goods were virtually unchanged.

The December 2008 to December 2009 increase in imports of goods reflected increases in industrial supplies and materials ($3.9 billion); automotive vehicles, parts, and engines ($3.1 billion); consumer goods ($1.2 billion); and capital goods ($0.7 billion). Decreases occurred in other goods ($0.1 billion) and foods, feeds, and beverages ($0.1 billion).

Services

Services exports were virtually unchanged from November to December. Decreases in transfers under U.S. military sales contracts, other transportation (which includes freight and port services), and other private services (which includes items such as business, professional, and technical services, insurance services, and financial services), were mostly offset by increases in travel and passenger fares.

Services imports increased $0.3 billion from November to December. The increase was mostly accounted for by increases in other transportation, travel, and passenger fares. Changes in the other categories of services imports were small.

Services exports decreased $0.1 billion from December 2008 to December 2009. The largest decreases were in travel ($0.5 billion), passenger fares ($0.3 billion), and royalties and license fees ($0.2 billion). An increase in other private services ($0.7 billion) was partly offsetting. Within other private services, the largest increases were in business, professional, and technical services and financial services.

Services imports decreased $0.5 billion from December 2008 to December 2009. The largest decreases were in passenger fares ($0.6 billion), other transportation ($0.5 billion), and travel ($0.3 billion). An increase in other private services ($0.5 billion) was partly offsetting. Within other private services, the largest increases were in insurance services and financial services.