December 2014 International Trade (General)

Click image for larger view

The goods and services deficit was $46.6 billion in December (well above expectations of $37.9 billion), up $6.8 billion from $39.8 billion in November. December exports were $194.9 billion, down $1.5 billion from November. December imports were $241.4 billion, up $5.3 billion from November.

The December increase in the goods and services deficit reflected an increase in the goods deficit of $6.9 billion to $66.0 billion and an increase in the services surplus of $0.1 billion to $19.5 billion.

For 2014, the goods and services deficit was $505.0 billion, up $28.7 billion or 6.0% from 2013. Exports were $2,345.4 billion, up $65.2 billion or 2.9%.  Imports were $2,850.5 billion, up $93.9 billion or 3.4%. 

Click image for larger view

On a global scale, data compiled by the Netherlands Bureau for Economic Policy Analysis showed that world trade volume decreased by 1.0% in November (from the prior month) while prices fell by 1.5%.

The foregoing comments represent the general economic views and analysis of Delphi Advisors, and are provided solely for the purpose of information, instruction and discourse. They do not constitute a solicitation or recommendation regarding any investment.