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December 6, 2018

The U.S. monthly international trade deficit increased in October 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $54.6 billion in September (revised) to $55.5 billion in October, as exports decreased and imports increased. The previously published September deficit was $54.0 billion. The goods deficit increased $0.9 billion in October to $78.1 billion. The services surplus decreased $0.1 billion in October to $22.6 billion.

GoodsandServicesDec6

Exports
Exports of goods and services decreased $0.3 billion, or 0.1 percent, in October to $211.0 billion. Exports of goods decreased $0.4 billion and exports of services increased $0.1 billion.

  • The decrease in exports of goods mostly reflected decreases in foods, feeds, and beverages ($0.7 billion) and in capital goods ($0.5 billion). Increases in other goods ($0.5 billion) and in industrial supplies and materials ($0.3 billion) partly offset the decreases.
  • The increase in exports of services mostly reflected increases in financial services ($0.1 billion) and in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services. A decrease in transport ($0.1 billion) partly offset the increases.

Imports
Imports of goods and services increased $0.6 billion, or 0.2 percent, in October to $266.5 billion. Imports of goods increased $0.5 billion and imports of services increased $0.2 billion.

  • The increase in imports of goods mostly reflected increases in consumer goods ($2.0 billion), in other goods ($0.8 billion), and in automotive vehicles, parts, and engines ($0.7 billion). A decrease in capital goods ($3.2 billion) partly offset the increases.
  • The increase in imports of services mostly reflected an increase in travel (for all purposes including education) ($0.2 billion).

For more information, read the full report