U.S. Trade Deficit Widens

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The goods and services deficit was $53.1 billion in December 2017, up $2.7 billion from $50.4 billion in November 2017, revised, according to a new report from the government.

December exports were $203.4 billion, $3.5 billion more than November exports. December imports were $256.5 billion, $6.2 billion more than November imports.

The December increase in the goods and services deficit reflected an increase in the goods deficit of $2.6 billion to $73.3 billion and a decrease in the services surplus of $0.1 billion to $20.2 billion.

For 2017, the goods and services deficit increased $61.2 billion, or 12.1 percent, from 2016. Exports increased $121.2 billion or 5.5 percent. Imports increased $182.5 billion or 6.7 percent.

The average goods and services deficit increased $2.8 billion to $50.8 billion for the three months ending in December.

Year-over-year, the average goods and services deficit increased $6.1 billion from the three months ending in December 2016.