November 2015 International Trade (General)

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The goods and services deficit was $42.4 billion in November, down $2.2 billion from $44.6 billion in October, revised. November exports were $182.2 billion, $1.6 billion less than October exports. November imports were $224.6 billion, $3.8 billion less than October imports.

Year-to-date, the goods and services deficit increased $25.2 billion (5.5%), from the same period in 2014. Exports decreased $99.0 billion (4.6%). Imports decreased $73.7 billion (2.8%).

The November figures show surpluses, in billions of dollars, with South and Central America ($2.7), OPEC ($1.1), Saudi Arabia ($0.4), United Kingdom ($0.3), and Brazil ($0.1).  Deficits were recorded, in billions of dollars, with China ($30.2), European Union ($12.8), Japan ($5.6), Germany ($5.5), Mexico ($5.4), Italy ($2.4), South Korea ($2.3), India ($2.1), France ($2.1), and Canada ($0.9).

   * The deficit with Mexico decreased $0.9 billion to $5.4 billion. Exports decreased $0.9 billion to $18.8 billion and imports decreased $1.8 billion to $24.2 billion.

   * The surplus with members of OPEC increased $0.7 billion to $1.1 billion. Exports increased $1.3 billion to $6.5 billion and imports increased $0.6 billion to $5.4 billion. 

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On a global scale, data compiled by the Netherlands Bureau for Economic Policy Analysis showed that world trade volume contracted by 0.5% in October (+0.5% year-over-year) while prices rose by 0.3% (-12.6% YoY).

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.