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January 30, 2026US TRADE BALANCE, NOVEMBER 2025 
Month over month (November 2025 vs October 2025)
The US trade deficit in goods and services expanded by $27.6 billion to $56.8 billion in November. The goods deficit expanded by $27.9 billion to $86.9 billion, and the services surplus grew by $298 million to $30.1 billion.
Total exports decreased $10.9 billion to $292.1 billion. Goods exports decreased $11.1 billion to $185.6 billion, and services exports increased $237 million to $106.4 billion.
Total imports increased $16.8 billion to $348.9 billion. Goods imports increased $16.8 billion to $272.5 billion, and services imports decreased $61.0 million to $76.3 billion
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Year over year (November 2025 vs November 2024)
The US trade balance deficit narrowed by $22.9 billion to $56.8 billion. The goods deficit narrowed by $19.1 billion and the services surplus expanded by $3.8 billion.
Total exports increased by 5.9%. Goods exports increased 5.2%, services exports increased 7.1%.
Total imports decreased 1.9%. Goods imports decreased 3.5%, and services imports increased 4.5%.
Sources: U.S. Census Bureau and U.S. Bureau of Economic Analysis, retrieved from the Federal Reserve Bank of St. Louis.
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