By: Shannon O’Brien
In November, the Nation’s international trade deficit in goods and services decreased to $34.3 billion as exports increased and imports decreased. Exports grew $1.7 billion to a record high $194.9 billion during November in part due to an increase in industrial supplies and materials ($0.7 billion). Imports decreased $3.4 billion to $229.1 billion led by a $4.3 billion decrease in industrial supplies and materials. The November goods and services deficit was the lowest since October 2009.
In early November 2013, Typhoon Haiyan hit Southeast Asia and devastated the Philippines. In order to help our data users assess the impact of Haiyan on trade with the Philippines, November’s graph of the month shows monthly trade data through November 2013 with the Philippines. As you can see from October to November, exports increased $0.2 billion while imports declined $0.4 billion. The highest increases in exports included civilian aircraft ($147.9 million), animal feeds ($31.1 million), soybeans ($29.7 million), wheat ($20.2 million), and coal and fuels ($18.7 million).
You can visit here for more information on shipping charity goods to the Philippines. Would you like to see any special trade reports on Typhoon Haiyan? Please leave a comment and let us know.
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