The U.S. monthly international trade deficit decreased in October 2014 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $43.6 billion in September (revised) to $43.4 billion in October, as exports increased more than imports. The previously published September deficit was $43.0 billion. The goods deficit increased less than $0.1 billion from September to $62.7 billion in October. The services surplus increased $0.1 billion from September to $19.2 billion in October.
Exports
Exports of goods and services increased $2.3 billion in October to $197.5 billion, mostly reflecting an increase in exports of goods. Exports of services also increased.
- The increase in exports of goods mostly reflected an increase in capital goods.
- The increase in exports of services reflected increases in financial services, in maintenance and repair services, and in charges for the use of intellectual property.
Imports
Imports of goods and services increased $2.1 billion in October to $241.0 billion, mostly reflecting an increase in imports of goods. Imports of services also increased.
- The increase in imports of goods was more than accounted for by increases in automotive vehicles, parts, and engines and in capital goods. A decrease in consumer goods was partly offsetting.
- The increase in imports of services mostly reflected an increase in transport, which includes freight and port services and passenger fares.
Goods by geographic area (seasonally adjusted, Census basis)
- The goods deficit with China decreased from $31.2 billion in September to $29.6 billion in October. Exports increased $1.6 billion to $11.4 billion and imports decreased $0.1 billion to $40.9 billion.
- The goods deficit with the European Union decreased from $12.5 billion in September to $11.2 billion in October. Exports increased $0.8 billion to $22.9 billion and imports decreased $0.4 billion to $34.2 billion.
- The goods deficit with Mexico increased from $4.8 billion in September to $5.4 billion in October. Exports increased $0.2 billion to $20.0 billion and imports increased $0.8 billion to $25.4 billion.