IndiaDataHub

Month-on-month movements drove much of December’s widening, with exports declining 3% MoM and imports rising 4% MoM (seasonally adjusted). For the full year 2025, the U.S. goods trade deficit stood at $1.23tn, up 2.1% from 2024, as imports rose $149.3bn (4.6%), outpacing the $123.5bn (6%) increase in exports.

Across key partners, exports to China declined for a twelfth consecutive month, while China’s share of total U.S. imports fell to 7.5% from 13.2% a year earlier. In contrast, trade with Taiwan strengthened sharply, with imports rising over 144% YoY, alongside the pickup in U.S.–India trade flows.

In November, U.S. exports grew 6.1% YoY, slowing from 15.8% in October, while imports rose 6.5% month-on-month but remained lower YoY.

Exports to China declined for the eleventh consecutive month, with China’s share of U.S. exports falling to 3.8%, while exports to Taiwan rose 43.6% YoY and exports to India increased 4.2% YoY.

December’s pickup followed a 7.2% expansion in November, a clear improvement over the 3.7% growth recorded a year earlier.

The acceleration was supported by strength in manufacturing and mining, alongside a return to growth in electricity output, while consumer durables and infrastructure goods continued to post double-digit gains.