Meanwhile, US exports rose 2.6% month-on-month and were 6.6% higher than those recorded in November 2023.

The US trade deficit reached US$78.193 billion in November, a figure that represents an increase of 9.2% compared to the previous month, according to data from the Department of Commerce.

US exports rose 2.6% month-on-month and were 6.6% higher than those recorded in November 2023. The US sold goods and services worth US$ 273.366 billion.

Imports rose 3.4% in the month and 9.4% year-on-year to total US$351.559 billion. The U.S. trade deficit was 20.8% higher than twelve months earlier.

Exports were driven by higher sales of capital goods, consumer goods, vehicles and their components, as well as industrial supplies and materials. Demand for other types of goods fell, although demand for services did improve.

On the other hand, there were higher purchases abroad of capital goods, industrial supplies and materials, motor vehicles, and food and beverages. In contrast, the acquisition of services barely increased.

The trade deficit in goods with China, the largest that the world's leading power has with other countries, was reduced by US$ 2.968 billion and closed November at US$ 24.994 billion.