International Trade Balance Widened to 9-Month High in October

The U.S. international trade deficit widened in October, growing 8.6% to $48.7 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. This was the highest level since January. Imports increased 1.6%, while exports were virtually unchanged. September’s trade deficit was upwardly revised from $43.5 billion to $44.9 billion.

The goods deficit increased 5.9% to $69.1 billion, while the services surplus shrunk slightly to $20.3 billion.

Exports of goods decreased just over 0.2% to $130.3 billion in October. Exports of services grew 0.5% to $65.6 billion.

Imports of goods increased 1.8% to $199.4 billion. Imports of services grew 0.7% to $45.2 billion in October.

Read the Census/BEA release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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