The U.S. goods and services deficit was $53.1 billion in December, up $2.7 billion from $50.4 billion in November, revised. December exports were $203.4 billion, $3.5 billion more than November exports. December imports were $256.5 billion, $6.2 billion more than November imports.
The December increase in the goods and services deficit reflected an increase in the goods deficit of $2.6 billion to $73.3 billion and a decrease in the services surplus of $0.1 billion to $20.2 billion.
For 2017, the goods and services deficit increased $61.2 billion, or 12.1 percent, from 2016. Exports increased $121.2 billion or 5.5 percent. Imports increased $182.5 billion or 6.7 percent.
Exports of goods increased $3.4 billion and exports of services increased $0.1 billion. The increase in exports of goods mostly reflected an increase in industrial supplies and materials ($1.5 billion). The increase in exports of services mainly reflected increases in travel ($0.1 billion), maintenance and repair services ($0.1 billion) and transport ($0.1 billion).
Imports of goods increased $6 billion and imports of services increased $0.3 billion. The increase in imports of goods mostly reflected an increase in pharmaceutical goods ($1.8 billion). The increase in imports of services mostly reflected an increase in travel ($0.2 billion).
