US trade balance for the month of November 2020.
- US trade deficit for November $-43.1 billion. Prior month revised to $-46.9 billion from previous $-47.2 billion
- China deficit $-26.37 billion versus $-31.3 billion last month
- exports +0.7% versus October -0.1%
- imports -1.0% versus -1.7% last month
- good deficit $-63.9 billion
- service surplus +$20.82 billion
- capital goods imports $55.41 billion versus October imports of $56.56 billion
- OPEC November trade surplus $1.02 billion 1st October surplus of $1.73 billion
- oil import price $51.92 per barrel versus October $52 per barrel.
- Oil import price down -9.8% from November 2018 price of $57.54 per barrel
- The deficit is the lowest since February 2017 when it also came in at $-43.1 billion
The data is pre-phase 1 US China trade deal. The administration is touting that the trade deals will narrow the trade deficit with China. For the month the deficit with China did fall quite dramatically by about $5 billion.
Looking at the chart below, the trend is speeding to the upside. A good report and it should be positive for GDP.