Trade Deficit Widens 9.6% as Exports Dip, Food Exports Decline 11.8%

The census bureau Advance International Trade reports shows the trade deficit widened by 9.6% from $56.5 billion in September to $62.0 billion in October.

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Advanced International Trade in Goods

The international trade deficit was $62.0 billion in October, up $5.5 billion from $56.5 billion in September. Exports of goods for October were $122.1 billion, $3.4 billion less than September exports. Imports of goods for October were $184.1 billion, $2.1 billion more than September imports.

Export-Import Details

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• Other than the relatively minor category of “other goods”, exports were down across the board from September.
• From October a year ago, exports were down or flat except for “other goods” and the category of Food, Feeds, and Beverages.
• This month, exports of Food, Feeds, and Beverages declined 11.8%.

The strengthening US dollar is going to increasingly come into play, dampening exports. The huge rise in grain exports is also expected to stall.