Washington, Jan 29, (NationPress) India continues to be one of the United States’ significant trading partners as the US trade deficit has escalated dramatically. This increase is attributed to rising imports and a drop in exports, as indicated by official statistics released on Thursday.

The U.S. Census Bureau, along with the U.S. Bureau of Economic Analysis, reported that the U.S. goods and services trade deficit soared to $56.8 billion in November, nearly double the adjusted figure of $29.2 billion from October.

A trade deficit occurs when a nation imports more goods and services than it exports.

In November, the United States experienced a goods trade deficit of $4.4 billion with India, placing it among the countries with significant trade discrepancies.

In total, U.S. exports declined to $292.1 billion in November, while imports rose to $348.9 billion, contributing to the increased deficit. Officials noted that this surge was primarily driven by goods trade, even as the U.S. continued to enjoy a surplus in services.

During this month, the United States recorded its largest goods trade deficits with Mexico at $17.8 billion, followed by Vietnam ($16.2 billion), Taiwan ($15.6 billion), China ($14.7 billion), and the European Union ($14.5 billion). Among major economies, the deficit with Germany was $7.4 billion, while in Asia, it amounted to $4.7 billion with Japan and $4.4 billion with India. The top ten list was completed by South Korea at $3.7 billion and France at $3.6 billion.

Simultaneously, the United States noted goods trade surpluses—where exports exceeded imports— with several partners. The most significant surpluses were with Switzerland at $7.8 billion, Netherlands at $5.6 billion, South and Central America at $5.1 billion, and the United Kingdom at $4.2 billion. Smaller surpluses were also recorded with Hong Kong, Brazil, Australia, Belgium, and Saudi Arabia.

The report indicated that the decline in goods exports in November was mainly due to reduced shipments of industrial supplies, precious metals, crude oil, and consumer goods, including pharmaceuticals. However, exports of services saw a slight increase, bolstered by travel, intellectual property charges, and business services, according to the report for November.

Additionally, the report highlighted a sharp increase in consumer goods imports, including pharmaceuticals, while capital goods imports also rose, led by computers and semiconductors. Imports of services saw a minor dip, primarily due to reduced travel-related expenditures.

On a year-to-date basis, covering January through November, the U.S. goods and services trade deficit grew by $32.9 billion, or 4.1 percent, compared to the same timeframe last year. During this period, both exports and imports expanded, though imports increased at a faster rate.

The upcoming U.S. trade report, encompassing December and full-year data for 2025, is anticipated for release on February 19, 2026.

India and the United States have consistently strengthened their trade relations in recent years, encompassing goods such as pharmaceuticals and industrial products, as well as services like information technology and business outsourcing.

U.S. trade data is closely monitored in India as it provides insights into export demand, global economic conditions, and trends in one of India’s crucial overseas markets.