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U.S. posts biggest goods trade deficit on record

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Published : December 30th, 2021
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Trading Economics/Staff/12-29-2021

“The US goods trade deficit widened to an all-time high of USD 97.78 billion in November 2021 from a revised USD 83.2 billion in the previous month, the advance estimate showed. Imports rose 4.7 percent to USD 252.43 billion, reflecting the ongoing recovery in domestic demand due to rising wages and a fast-recovering economy. Purchases rose for industrial supplies (10.0 percent), consumer goods (4.5 percent), vehicles (4.5 percent), and foods, feeds, & beverages (3.4 percent). Meanwhile, exports were down 2.1 percent to USD 154.66 billion on the back of lower sales of industrial supplies (-2.3 percent), capital goods (-3.0 percent), consumer goods (-2.1 percent), and vehicles (-2.3 percent). So far this year, the US posted a goods gap of USD 984.6 billion, and is on track to book its biggest annual shortfall on record.”

United States Goods Trade Balance

USAGOLD note: Gold had gone negative during overnight trading and was down as much as $17 at one point this morning. It began making up those losses soon after the record trade deficit was announced, and is down only $4 as we post this update.

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