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U.S. Services Surplus Decreases Again in November 2002
Jan 24, 2003

U.S. Services Surplus Decreases Again in November 2002 The U.S. services surplus decreased $0.1 billion to $4.2 billion in November 2002 according to the latest international trade report by the Bureau of Economic Analysis. Exports of services increased to $25.2 billion from $24.9 billion, and imports of services increased to $21.0 billion from $20.6 billion.

The goods deficit increased $4.8 billion from October to $44.3 Billion after exports of goods increased $0.6 billion to $58.0 billion, and imports of goods increased $5.4 billion to $102.3 billion. The total November exports of $83.2 billion and imports of $123.3 billion resulted in a goods and services deficit of $40.1 billion, $4.9 billion more than the $35.2 billion revised figure for October.

Services exports increased $0.3 billion from October to November. The increase was mostly accounted for by increases in travel, other private services (which includes items such as business, professional, and technical services; insurance services; and financial services) and other transportation(which includes freight services and port expenditures by carriers).

Meanwhile, services imports increased $0.4 billion from October to November. Travel and other transportation accounted for most of the increase.

The full report is available at the Bureau of Economic Analysis (BEA). Monthly U.S. trade statistics can be downloaded from the SITrends data section.

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