The U.S. Commerce Department reported on Thursday that U.S. the goods and services trade deficit widened to $68.1 billion in November from an unrevised $63.1 billion in the previous month. This was the biggest trade deficit since August 2006.

Economists had expected a deficit of $65.2 billion. 

According to the report, the November rise in the goods and services deficit reflected an advance in the goods deficit of $5.0 billion to $86.4 billion and a decline in the services surplus of less than $0.1 billion to $18.2 billion.

In November, exports of goods and services from the U.S. rose 1.2 percent m-o-m to $184.2 billion, while imports surged 2.9 percent m-o-m to $252.3 billion, reflecting both the ongoing impact of the COVID-19 pandemic and the continued economic recovery from the steep declines earlier in the year. 

Year-to-date, the goods and services deficit climbed 13.9 percent from the same period in 2019. Exports plunged 16.1 percent, while imports tumbled 10.5 percent.