The Bureau of Economic Analysis reports that the US trade deficit increased to $56.8 billion in November, up from $29.2 billion in October, as exports fell 3.6% to $292.1 billion and imports rose 5.0% to $348.9 billion. The goods deficit widened to $86.9 billion, while the services surplus slightly increased to $30.1 billion. Major deficits came from Mexico, China, Vietnam, Taiwan, and the EU, while surpluses were seen with Switzerland, the Netherlands, and the UK The BEA writes:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $56.8 billion in November, up $27.6 billion from $29.2 billion in October, revised.
U.S. International Trade in Goods and Services Deficit Deficit: $56.8 Billion +94.6%° Exports: $292.1 Billion –3.6%° Imports: $348.9 Billion +5.0%° Next release: Thursday, February 19, 2026 (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes
Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, January 29, 2026
Exports, Imports, and Balance (exhibit 1)
November exports were $292.1 billion, $10.9 billion less than October exports. November imports were $348.9 billion, $16.8 billion more than October imports.
The November increase in the goods and services deficit reflected an increase in the goods deficit of $27.9 billion to $86.9 billion and an increase in the services surplus of $0.3 billion to $30.1 billion.
Year-to-date, the goods and services deficit increased $32.9 billion, or 4.1 percent, from the same period in 2024. Exports increased $185.7 billion or 6.3 percent. Imports increased $218.6 billion or 5.8 percent.
Read more here.
