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Friday, February 5, 2021 Services: Jeannine Aversa, (301) 278-9003 Goods: Mala Kline, (301) 763-2311 December 2020 Trade Gap is $66.6 Billion U.S. international trade in goods and services The U.S. monthly international trade deficit decreased in December 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $69.0 billion in November (revised) to $66.6 billion in December, as exports increased more than imports. The previously published November deficit was $68.1 billion. The goods deficit decreased $2.8 billion in December to $84.2 billion. The services surplus decreased $0.4 billion in December to $17.5 billion. Monthly Goods and Services Trade Deficit January 2011–December 2020 Billion $ 70 60 50 40 30 20 10 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 U.S. Bureau of Economic Analysis U.S. Census Bureau Seasonally adjusted Exports Exports of goods and services increased $6.2 billion, or 3.4 percent, in December to $190.0 billion. Exports of goods increased $6.0 billion and exports of services increased $0.3 billion. • The increase in exports of goods reflected increases in industrial supplies and materials ($1.8 billion), in foods, feeds, and beverages ($1.4 billion), in capital goods ($1.1 billion), and in automotive vehicles, parts, and engines ($0.9 billion). • The increase in exports of services reflected an increase in travel ($0.2 billion). Imports Imports of goods and services increased $3.8 billion, or 1.5 percent, in December to $256.6 billion. Imports of goods increased $3.1 billion and imports of services increased $0.7 billion. • The increase in imports of goods reflected increases in industrial supplies and materials ($2.7 billion) and in automotive vehicles, parts, and engines ($2.0 billion). A decrease in consumer goods ($1.9 billion) partly offset the increases. • The increase in imports of services reflected increases in travel ($0.5 billion) and in transport ($0.2 billion). The trade statistics reflect the impact of the COVID-19 pandemic and the continued economic recovery. The effects of the pandemic cannot be separately identified in the statistics. For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, December 2020. BEA statistics—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the February 5 news release, U.S. International Trade in Goods and Services, December 2020, issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The next release is March 5, 2021.