U.S. Commerce Secretary Gary Locke issued the following statement today on the release of the November 2010 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports of goods and services in November increased 0.8 percent from October to $159.6 billion, the highest level for monthly exports since August 2008 ($162.9 billion) and with record exports to China ($9.5 billion). U.S. imports of goods and services increased 0.6 percent over this period to $198.0 billion, decreasing the trade deficit 0.3 percent since October to $38.3 billion in November. The improvement in the goods and services trade balance was due to a record monthly surplus in trade in services ($12.9 billion).
“In fact, today's data show that through November, U.S. exports of goods and services in 2010 surged almost 17 percent from their level in 2009, an increase of $239 billion." “In the years ahead, there are going to be hundreds of millions of people in India, in China and around the world moving into the middle class, and that represents an enormous opportunity for U.S. businesses. President Obama’s National Export Initiative is the right policy to help them seize that opportunity.” Report | Fact sheet (PDF)
Source: U.S. Department of Commerce
