US Trade Deficit Crashes To Smallest Since Trump Elected

The U.S. trade balance (deficit) narrowed in November to the smallest in three years as exports advanced amid a thaw in the trade war with China, while imports fell to the lowest since 2017.

The overall U.S. deficit in goods and services shrank to $43.1 billion in November from $46.9 billion the prior month - the smallest deficit sine October 2016 (before Trump's election)

Source: Bloomberg

The figures also suggest the gap may shrink on an annual basis for the first time since 2013.

Aircraft exports decreased notably (Boeing) but Agricultural exports improved...

  • Overall exports of goods and services in November rose 0.7% to $208.6 billion, including gains in consumer goods, capital goods and soybeans.

  • Imports fell 1% to $251.7 billion, with declines in civilian aircraft, consumer goods and petroleum products.

Additionally, in nominal terms, the petroleum surplus edged up to a record $832 million, further boosting America’s new status as a net exporter.

Source: Bloomberg

As Bloomberg notes, the report indicates trade is on track to contribute to fourth-quarter economic growth after having weighed on gross domestic product for the previous two periods, though the shift reflects more of a drop in imports than a gain in exports.

So the question is - Is Trump winning again?