US Trade Deficit Declines in November, Trade War in Focus - Forex News by FX Leaders
US Trade Deficit Declines in November, Trade War in Focus

US Trade Deficit Declines in November, Trade War in Focus

Posted Wednesday, January 8, 2020 by
Arslan Butt • 1 min read

The prolonged trade war with China has caused the US trade deficit to tumble to an over three-year low during November 2019 over a continued decline in imports. On the positive side, however, exports witnessed a growth, pointing to a strong performance for the US economy in Q4 2019.

According to data released by the US Commerce Department, the trade deficit rose by 8.2% to $43.1 billion in November, the lowest level seen since October 2016. Economists were expecting the trade deficit to touch $43.8 billion during this period. Meanwhile, the trade gap narrowed to 0.7% and continues towards the first yearly decline in this figure in six years.

The US-China trade war which has dragged on for around 18 months has caused US’s goods trade deficit with China to fall 15.7% to $26.4 billion during November. Imports from China declined 9.2% while US goods’ exports to China increased by 13.7%.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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