Washington/New Delhi, Jan 30: India remained one of the United States’ major trading partners in November as the US trade deficit widened sharply, driven by a surge in imports and a decline in exports, according to official data released on Thursday.
Data from the US Census Bureau and the Bureau of Economic Analysis showed the goods and services trade deficit rising to USD 56.8 billion in November, nearly double the revised USD 29.2 billion recorded in October. The widening gap reflected a stronger increase in imports compared with exports during the month.
The United States posted a goods trade deficit of USD 4.4 billion with India in November, placing New Delhi among the countries with which Washington recorded notable trade imbalances.
Overall exports fell to USD 292.1 billion, while imports climbed to USD 348.9 billion. Officials said the deterioration was led by the goods sector, even as the US continued to register a surplus in services trade.
The largest goods trade deficits in November were recorded with Mexico (USD 17.8 billion), Vietnam (USD 16.2 billion), Taiwan (USD 15.6 billion), China (USD 14.7 billion), and the European Union (USD 14.5 billion). Among major economies, the deficit stood at USD 7.4 billion with Germany, USD 4.7 billion with Japan, and USD 4.4 billion with India.
At the same time, the US registered goods trade surpluses with several partners, led by Switzerland (USD 7.8 billion), the Netherlands (USD 5.6 billion), South and Central America (USD 5.1 billion), and the United Kingdom (USD 4.2 billion).
The report noted that goods exports declined largely due to lower shipments of industrial supplies, crude oil, precious metals, and consumer products. Services exports, however, edged up, supported by travel, intellectual property charges, and business services.
On the import side, consumer goods rose sharply, including pharmaceuticals, while capital goods imports increased, driven by computers and semiconductors. Services imports dipped slightly, mainly due to reduced travel spending.
For the January–November period, the US trade deficit rose by USD 32.9 billion, or 4.1%, compared with the same period last year, as imports expanded faster than exports.
India and the United States have steadily deepened trade engagement in recent years across goods such as pharmaceuticals and industrial products, and services including information technology and business outsourcing. US trade data are closely watched in India for signals on export demand and global economic trends.