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February 07, 2023US TRADE BALANCE, DECEMBER AND ANNUAL 2022 Month over month (December 2022 vs November 2022)
The US net trade deficit widened by $6.4 billion (+10-5%) to $67.4 billion. The net goods deficit widened by $7.4 billion(+8.9%) to $90.6 billion. The net services surplus widened by $1.0 billion (+4.7%) to $23.2 billion.
Exports of goods decreased $2.9 billion to $168.1 billion. Imports of goods increased $4.5 billion to $258.8 billion.
Exports of services increased $0.7 billion to $82.0 billion. Imports of services decreased $0.3 billion to $58.8 billion.
Year over year (December 2022 vs December 2021)
The US net trade deficit narrowed by $11.4 bill (-14.5%). The net goods deficit narrowed by $9.9 billion (-9.8%). The net services surplus widened by $1.6 billion (7.2%).
Total exports increased $17.7 billion. Exports of goods increased $8.8 billion. Exports of services increased $8.9 billion.
Total imports increased $6.3 billion. Imports of goods decreased -$1.1 billion. Imports of services increased $7.4 billion.
ANNUAL (2022 vs 2021)
The US net trade deficit widened by $103.0 billion to $948.1 billion.
Total exports increased 17.7% (+$453.1 billion). Exports of goods increased 18.4% (+$324.2 billion). Exports of services increased 16.2% (+$128.9 billion).
Total imports increased 16.3% (+$556.1 billion). Imports of goods increased 14.9% (+$425.7 billion). Imports of services increased 23.7% (+$130.5 billion).
REFERENCES
U.S. Census Bureau and U.S. Bureau of Economic Analysis, retrieved from FRED, Federal Reserve Bank of St. Louis;
Press release Data
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