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U.S. Trade Deficit Jumps to Highest Level in 14 Years

The Commerce Department reported on Thursday the U.S. trade deficit rose to $68.1 billion in November, which represents the highest monthly deficit in 14 years. The deficit rose $5 billion from the level it was in October, as imports outweighed a smaller increase in exports.

Imports of goods and services increased 2.9%, while exports rose just 1.2%. It is the largest monthly trade imbalance since August 2006.

The November increase in the goods and services deficit reflected an increase in the goods deficit of $5 billion to $86.4 billion and a decrease in the services surplus of less than $0.1 billion to $18.2 billion.

Year-to-date, the goods and services deficit increased $73.6 billion, or 13.9%, from the same period in 2019 and stands at $604.8 billion through the first 11 months of 2020. Exports decreased $372.3 billion or 16.1%. Imports decreased $298.7 billion or 10.5%.

The deficit with China rose 1.9% in November to $30.7 billion, bringing the total for the first 11 months of 2020 to $283.6 billion and representing a drop of 11.5% from the same period in 2019.

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*Photo credit Debbie Ann Powell Shutterstock


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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