External deficit fell to a minimum in 5 months

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The US external deficit decreased by 11.5% in November and amounted to $49.3 billion against a value of $55.7 billion in October. The negative balance, which reached a record level in 2008, fell to a 5-month low. Experts had expected the decrease only to $54 billion, Trading Economics reports. Exports declined by 0.6% compared to October and reached $209.87 billion. Deliveries of commercial aircraft increased, while sales of consumer goods and medicines, by contrast, fell. The United States reduced its purchases of oil and oil products, due to which imports decreased by 2.9% to $259.19 billion. The volume of purchases was minimal in two years. The trade balance deficit with China decreased by $2.8 billion and amounted to $35.4 billion. The trade balance deficit for 11 months of 2018 reached $552.3 billion compared to $500 billion in 2017. This is the second value in the last 10 years. The maximum negative balance was recorded in 2008 at the level of $700 billion.

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