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February 27, 2019 | Goods Trade Deficit Soars 12.8% in December: Year-Over-Year Exports Down 0.3%

Mike 'Mish' Shedlock

Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
In December, goods exports fell $4 billion while imports rose $5 billion. Year-over-Year exports are now negative.

The Census Department Advance Report on International Trade for December was released today after a government shutdown delay.

Advance International Trade in Goods

  • The international trade deficit was $79.5 billion in December, up $9.0 billion from $70.5 billion in November.
  • Exports of goods for December were $135.7 billion, $4.0 billion less than November exports.
  • Imports of goods for December were $215.2 billion, $5.0 billion more than November imports.
  • Agricultural exports fell 1.8%.
  • Year-over-year exports are down 0.3%.
  • Year-over-year imports are up 3.2%.

Trump Desperate for a Deal

As a tribute to Trump’s tariff policies and China’s retaliations, year-over-year agricultural exports are down a whopping 5.5%.

Trump is desperate for a deal with China. So expect one: Hooray! “Substantial” Progress With China (Just Don’t Ask Where).

And don’t expect a huge victory no matter what Trump proclaims.

Mike “Mish” Shedlock

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February 27th, 2019

Posted In: Mish Talk

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