Trade Deficit Widens By 1.7% With China Leading The Way

Exports fell 0.1% and imports rose 0.2%. The result was a widening of the trade deficit to $55.5 billion.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the International Goods and Services Trade Deficit was $55.5 billion in October, up $0.9 billion from $54.6 billion in September, revised.

Exports, Imports, and Balance

  • October exports were $211.0 billion, $0.3 billion less than September exports. October imports were $266.5 billion, $0.6 billion more than September imports.
  • The October increase in the goods and services deficit reflected an increase in the goods deficit of $0.9 billion to $78.1 billion and a decrease in the services surplus of $0.1 billion to $22.6 billion.
  • Year‐to‐date, the goods, and services deficit increased $51.3 billion, or 11.4 percent, from the same period in 2017. Exports increased $149.3 billion or 7.7 percent. Imports increased $200.6 billion or 8.4 percent.
  • Average exports increased $12.7 billion from October 2017. Average imports increased $22.1 billion from October 2017.

Exports

  • Exports of goods decreased $0.4 billion to $141.5 billion in October.
  • Foods, feeds, and beverages decreased $0.7 billion. Soybeans decreased $0.8 billion. Capital goods decreased $0.5 billion. Other goods increased $0.5 billion.
  • Exports of services increased $0.1 billion to $69.6 billion in October.

Imports

  • Imports of goods increased $0.5 billion to $219.6 billion in October.
  • Imports of goods on a Census basis increased $0.3 billion.
  • Imports of consumer goods increased by $2.0 billion. Pharmaceutical preparations increased $1.5 billion. Other goods increased $0.8 billion. Automotive vehicles, parts, and engines increased $0.7 billion. Capital goods decreased $3.2 billion.

By Country

  • The deficit with China increased $0.7 billion to $38.2 billion in October. Exports decreased by 2.6 billion to $7.6 billion and imports decreased $1.9 billion to $45.7 billion.
  • The deficit with Mexico decreased $1.2 billion to $6.4 billion in October. Exports decreased $0.1 billion to $22.4 billion and imports decreased $1.3 billion to $28.8 billion.
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