The goods trade deficit in the US is at its lowest level in 2 years. The goods trade deficit, which fell to its lowest level since December 2020, was $98.8 billion in October.
First since 2020: US trade deficit of $83.3 billion
The US goods trade deficit fell 15.6 percent month on month in November to $83.3 billion, the lowest level since December 2020.
The US Department of Commerce released data on the balance of goods trade, wholesale and retail stocks for November.
Accordingly, the goods trade deficit, which is called the leading foreign trade deficit, decreased by 15.6 percent in November compared to the previous month and decreased to 83.3 billion dollars. The goods trade deficit, which fell more than expected, was expected to realize at the level of 96.9 billion dollars in this period.
Goods trade deficit was 98.8 billion in October
The goods trade deficit, which fell to its lowest level since December 2020, was $98.8 billion in October.
Exports of goods fell by 3.1 percent to 168.9 billion dollars in November, while imports of goods decreased by 7.6 percent to 252.2 billion dollars.
In addition, wholesale stocks increased by 1 percent and retail stocks increased by 0.1 percent on a monthly basis in November.