The U.S. trade gap widened in December, on the decline in exports and growth in imports.
U.S. trade gap grew in double digits in December by 21.2 % to a record $-59.8 billion. The widening trade gap will subtract from the GDP growth, due to shrinking exports, the shrinking price of oil, cuts the trade deficit, adds to the gdp and disposable income growth, but economists believe that declining demand for oil imports might be a evidence of slowing economy.

International Trade (Picture Autor: Maurice Marcellin) licence Creative Commons

The U.S. trade deficit with China edged down to $-36.8 billion in December from the deficit of $-37.9 billion recorded in November, led by declining imports from China.

Chinese officials believe that a higher value of the yuan would not solve the U.S. trade deficit.
• Imports of Crude Oil

Industrial Supplies		Consumer Goods		Military sales		Private Services
0.28%	-4.54%	4.50%	0.28%	0.14%	-0.07%	-2.32%	0.61%
*Imports*	Exports	Imports	Exports	Imports	Exports	Imports	Exports

In December Imports have climbed by 2.2 % to $264.9 billion, reported by the Commerce Department, demonstrating the trend of strong business investment imports of Capital goods, except automotive grew and Travel services, which accounted for 0.26 % of total imports. Imports of Weapons increased also, up 12.90 % to $0.07 billions. Bucking the overall trend, imports of miscellaneous other goods, Royalties and License Fees. U.S. Imports of Advanced Materials also declined, by -19.09 % to $0.20 billions.

Economists think the report isn't necessarily a disaster to the extent that the surge in imports reflects strong domestic demand and restocking of store shelves.

The decline came down to oil, as petroleum imports shrank, as oil prices fell to $10.1 billion a barrel in December from $12.2 billion a barrel in November and as Americans used -0.52 % less imported energy products. U.S. Imports of services grew by 0.97 %, whats more important purcheses of foreign made products, which accounted for 82 %, of total imports, rose by 2.47 %. • U.S. Exports by Major Category

Imports from europe fell, as demand for goods from Belgium declined, but trade with Hungary grew by 17.96 %. U.S. Demand for goods from Pacific Rim Countries fell with -10.72 % decline of imports from Australia, but imports of goods from Malaysia increased. Imports from Mexico and Canada where lower in December. Declining petroleum consumption in the U.S., has resulted in lower imports from OPEC (Organization of the Petroleum Exporting Countries), such as Saudi Arabia and Venezuela. From Dec. 2017, U.S. trade gap jumped by 12.5 %, due to 3.28 % increase in imports. Exports fell by -2.27 % in December to $205.1 billion , reported by the Commerce Department, the largest decline came from exports of Foods, feeds, and beverages and Passenger Fares. Exports of Weapons fell as well, by -40.78 % to $0.26 billions. Bucking the overall trend, exports of miscellaneous other goods and , surged. Exports of Opto-Electronics grew also, up 37.63 % to $0.55 billions. Economists are concerned that slowing demand from Europe may dampen U.S. export growth. The decline of exports was broad based, services fell -0.06 % and exports of goods declined by -3.36 %. Exports to europe fell, where sales of U.S. made goods to Norway fell the most, but trade with Austria grew by 52.45 %. Products made in U.S. have seen declining demand form Pacific Rim Countries with -10.72 % decline of exports to Australia, but exports of goods to Malaysia increased. For the year 2018, U.S. trade deficit jumped by 9.7 % or $55 billions to $621 billions compare to $566 billions in previous year, U.S. Imported 7.79 % more goods and services, including $211.8 billions worth of curude oil and other petroleum products in 2018, exports grew by 7.33 % to $2,500.0 billions. • U.S. Imports by Major Countries
Exports to Selected Geographical Region

Technology Group Exports	Technology Group Imports	Technology Group Trade Balance
Total Technology Group exports increased by $457 millions or 1.42 % to $32,667 millions from Nov. 2018 , caused by increase in exports of Aerospace goods by 9.41 % to $13,410 millions from Nov. 2018. Exports of Information and Communication goods fell by $457 millions or -5.62 % to $8,194 millions.	Total Technology Group imports deacreased by $726 millions or -1.91 % to $37,240 millions from Nov. 2018 , despite a decrease in imports of Electronics goods by -5.04 % to $3,163 millions from Nov. 2018. Imports of Information and Communication goods rose by $726 millions or 4.14 % to $20,951 millions. • Imports by Technology Group	Total Technology Group trade deficit fell by $5,103 millions or 35.35 % to $9,331 millions from deficit of $14,434 millions Nov. 2018. Information and Communications trade deficit fell by $3,006 millions or 17.71 % to $13,966 millions from deficit of $16,972 millions Nov. 2018. • Trade Balance by Technology Group

Technology Group Exports

Total Technology Group exports increased by $457 millions or 1.42 % to $32,667 millions from Nov. 2018 , caused by increase in exports of Aerospace goods by 9.41 % to $13,410 millions from Nov. 2018. Exports of Information and Communication goods fell by $457 millions or -5.62 % to $8,194 millions.

Technology Group Imports

Total Technology Group imports deacreased by $726 millions or -1.91 % to $37,240 millions from Nov. 2018 , despite a decrease in imports of Electronics goods by -5.04 % to $3,163 millions from Nov. 2018. Imports of Information and Communication goods rose by $726 millions or 4.14 % to $20,951 millions.

• Imports by Technology Group

Technology Group Trade Balance

U.S. International Trade in Goods & Services

(In millions $)

U.S. International Trade in Goods & Services (In millions $)	Dec. 2018	Nov. 2018	Oct. 2018	Sep. 2018	Aug. 2018	July 2018
Total Trade Balance	-59,769	-49,313	-55,488	-54,019	-53,309	-50,082
Trade Balance of Goods	-81,541	-71,591	-78,112	-77,226	-76,634	-73,144
Trade Balance of Services	21,773	22,278	22,624	23,207	23,326	23,062
Total Exports	205,116	209,873	211,046	212,565	209,445	211,077
Exports of Goods	135,624	140,336	141,472	141,858	138,990	140,791
Exports of Services	69,492	69,537	69,573	70,706	70,455	70,286
Total Imports	264,885	259,186	266,534	266,584	262,754	261,159
Imports of Goods	217,166	211,927	219,585	219,084	215,624	213,935
Imports of Services	47,719	47,259	46,950	47,500	47,129	47,224

U.S. Trade Balance by Selected Countries and Areas

( In millions $)

U.S. Trade Balance by Selected Countries and Areas ( In millions $)	Dec. 2018	Nov. 2018	Oct. 2018	Sep. 2018	Aug. 2018	July 2018
Total Goods	-73,765	-74,648	-90,513	-73,732	-83,995	-84,466
North America	-9,119	-7,327	-9,110	-9,525	-11,297	-8,690
Canada	-1,411	-670	-1,943	-1,810	-2,605	-3,149
Mexico	-7,708	-6,657	-7,167	-7,714	-8,692	-5,541
Europe	-18,242	-18,412	-21,438	-11,924	-18,023	-21,035
European Union	-15,059	-15,117	-17,615	-10,646	-15,708	-17,589
Austria	-767	-983	-1,042	-748	-997	-853
Belgium	1,350	814	1,060	1,142	1,310	872
Czech Republic	-240	-190	-181	-84	-197	-198
Finland	-381	-428	-469	-433	-402	-388
France	-1,493	-1,523	-1,673	-982	-1,115	-1,843
Germany	-5,946	-5,812	-6,207	-4,802	-5,914	-6,612
Hungary	-312	-262	-240	-278	-261	-327
Ireland	-3,851	-3,959	-4,471	-3,516	-4,323	-4,189
Italy	-3,111	-2,796	-2,951	-1,704	-2,965	-3,110
Netherlands	1,743	1,791	1,696	2,162	1,911	2,028
Poland	-129	-330	-326	-328	-323	-326
Spain	-266	-156	-213	197	-440	-636
Sweden	-459	-530	-538	-415	-368	-621
United Kingdom	206	605	-564	581	-122	62
Other E.U.	-1,402	-1,359	-1,496	-1,438	-1,501	-1,449
Norway	-172	-206	-134	-117	232	-270
Russia	-1,125	-1,069	-1,018	-1,692	-1,335	-1,398
Switzerland	-2,172	-2,304	-2,558	118	-1,231	-1,703
Other Europe	285	284	-113	413	19	-75
Euro Area	-13,487	-13,739	-14,993	-9,507	-13,588	-15,555
Pacific Rim Countries	-43,821	-45,948	-51,980	-45,503	-46,851	-45,528
Australia	1,278	1,346	1,221	1,091	1,294	1,135
China	-36,831	-37,861	-43,102	-40,243	-38,570	-36,834
Japan	-5,650	-5,790	-6,166	-3,927	-6,011	-5,460
Malaysia	-2,395	-2,188	-2,144	-2,273	-2,403	-2,051
Philippines	-434	-370	-439	-312	-265	-334
Newly Industrialized Countries (NICS)	-5,674	-7,145	-9,287	-8,254	-9,140	-8,679
Hong Kong	2,381	2,826	2,462	2,942	2,283	2,002
Korea	-857	-2,022	-1,882	-1,454	-1,846	-1,527
Singapore	733	750	501	112	560	-121
Taiwan	-1,171	-1,651	-1,392	-969	-1,026	-1,232
Other Pacific Rim	67	76	86	477	12	-86
South/Central America	3,637	5,404	4,183	3,220	3,093	2,703
Argentina	271	564	377	433	480	510
Brazil	786	638	869	724	366	577
Chile	482	837	672	387	524	388
Colombia	70	401	472	290	90	93
Other South/Central America	2,027	2,965	1,793	1,386	1,634	1,135
OPEC	-305	-776	-2,451	-1,984	-1,366	-3,464
Indonesia	-942	-1,064	-1,126	-948	-880	-1,021
Nigeria	-213	-138	-354	7	-17	5
Saudi Arabia	-941	-1,335	-1,474	-1,347	-1,258	-1,065
Venezuela	-503	-334	-887	-966	-792	-692
Other OPEC	1,353	1,031	264	323	702	-1,712
Africa	-509	-207	-989	-294	-745	-1,080
Algeria	-287	-119	-297	-253	-405	-446
Egypt	175	238	136	203	97	146
South Africa	-537	-333	-254	-135	-208	-189
Other Africa	140	7	-573	-109	-229	-590
Other Countries	-5,674	-7,145	-9,287	-8,254	-9,140	-8,679
India	-631	-1,465	-2,445	-1,535	-1,919	-2,008
Thailand	-1,544	-1,560	-1,538	-1,694	-1,759	-1,792
Other	-3,499	-4,120	-5,305	-5,025	-5,463	-4,879

U.S. Imports by Major Category

( In millions $)

Imports by Major Category ( In millions $)	Dec. 2018	Nov. 2018	Oct. 2018	Sep. 2018	Aug. 2018	July 2018
Total	264,885	259,186	266,534	266,584	262,754	261,159
Total Services	47,719	47,259	46,950	47,500	47,500	47,224
Travel	701	641	680	670	670	662
Passenger Fares	9,696	9,301	9,297	9,209	9,209	8,847
Other Transportation	12,775	12,652	12,299	12,069	12,069	11,996
Royalties and License Fees	2,880	2,949	3,028	2,960	2,960	3,056
Other Private Services	2,607	2,669	2,622	2,639	2,639	2,616
Transfers Under U.S. Military Sales Contracts	4,404	4,398	4,386	4,578	4,578	4,814
U.S. Government Misc. Services	3,288	3,290	3,294	3,469	3,469	3,467
Total Goods	217,166	211,927	219,585	219,084	215,624	213,935
Foods, feeds, and beverages	12,583	12,153	12,299	12,143	12,305	12,440
Industrial supplies and materials	46,124	45,997	49,207	49,471	49,655	49,289
Capital goods, except automotive	60,006	57,254	56,907	60,063	57,683	58,159
Automotive vehicles, parts, and engines	32,133	32,083	31,839	31,107	31,711	30,710
Consumer goods	55,517	53,128	57,440	55,435	53,471	52,618
Other goods	9,187	9,549	10,147	9,334	9,050	9,030

Exports by Technology Group

( In millions $)

Exports by Technology Group ( In millions $)	Dec. 2018	Nov. 2018	Oct. 2018	Sep. 2018	Aug. 2018	July 2018
Total Technology Group	32,667	32,210	32,210	31,395	29,797	28,167
Advanced Materials	250	263	263	243	254	261
Aerospace	13,410	12,257	12,257	12,936	11,222	9,863
Biotechnology	1,662	1,896	1,896	1,916	1,630	1,513
Electronics	3,728	3,990	3,990	3,748	3,966	3,660
Flexible Manufacturing	1,725	1,595	1,595	1,543	1,484	1,730
Information and Communications	8,194	8,682	8,682	7,779	7,912	8,034
Life Science	2,829	2,641	2,641	2,562	2,597	2,401
Nuclear Technology	68	59	59	65	50	52
Opto-Electronics	545	396	396	401	476	450
Weapons	257	434	434	202	207	202

Annual Report on U.S. International Trade in Goods & Services

(In millions $)

U.S. International Trade in Goods & Services (In millions $)	2018	2017	2016	2015	2014	2013
Total Trade Balance	-621,036	-566,031	-504,793	-531,503	-471,532	-471,532
Trade Balance of Goods	-891,251	-810,023	-752,507	-758,934	-703,159	-703,159
Trade Balance of Services	270,215	243,993	247,714	227,431	231,627	231,627
Total Exports	2,499,970	2,329,311	2,208,072	2,230,317	2,272,320	2,272,320
Exports of Goods	1,671,839	1,551,434	1,455,704	1,513,888	1,590,350	1,590,350
Exports of Services	828,131	777,877	752,368	716,429	681,970	681,970
Total Imports	3,121,006	2,895,342	2,712,866	2,761,820	2,743,851	2,743,851
Imports of Goods	2,563,090	2,361,458	2,208,211	2,272,821	2,293,508	2,293,508
Imports of Services	557,916	533,884	504,654	488,999	450,343	450,343

• Source U.S. Department of Commerce, BEA.gov
Picture Autor: (Maurice Marcellin) licence Creative Commons.

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