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  4. October 2015 Trade Gap is $43.9 Billion

October 2015 Trade Gap is $43.9 Billion

December 4, 2015

The U.S. monthly international trade deficit increased in October 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $42.5 billion in September (revised) to $43.9 billion in October, as exports decreased more than imports. The previously published September deficit was $40.8 billion.  The goods deficit increased $2.1 billion from September to $63.1 billion in October. The services surplus increased $0.6 billion from September to $19.2 billion in October.

Exports
Exports of goods and services decreased $2.7 billion, or 1.4 percent, in October to $184.1 billion. Exports of goods decreased $3.1 billion and exports of services increased $0.4 billion.

  • The decrease in exports of goods mainly reflected decreases in industrial supplies and materials ($1.6 billion) and in capital goods ($0.9 billion).
  • The increase in exports of services mainly reflected increases in transport ($0.2 billion), which includes freight and port services and passenger fares, and in financial services ($0.2 billion).

Imports
Imports of goods and services decreased $1.3 billion, or 0.6 percent, in October to $228.0 billion. Imports of goods decreased $1.0 billion and imports of services decreased $0.2 billion.

  • The decrease in imports of goods mainly reflected a decrease in industrial supplies and materials ($2.0 billion) that was partly offset by an increase in capital goods ($0.5 billion).
  • The decrease in imports of services was more than accounted for by decreases in travel (for all purposes including education) ($0.2 billion) and in transport ($0.1 billion).

Goods by geographic area (seasonally adjusted, Census basis)

  • The surplus with members of OPEC decreased from $1.7 billion in September to $0.4 billion in October. Exports decreased $1.6 billion to $5.1 billion and imports decreased $0.3 billion to $4.7 billion.
  • The deficit with Mexico increased from $5.4 billion in September to $6.3 billion in October. Exports increased $0.1 billion to $19.7 billion and imports increased $1.0 billion to $26.0 billion.
  • The balance with the United Kingdom shifted from a deficit of $1.2 billion in September to a surplus of $0.6 billion in October. Exports increased $0.4 billion to $5.2 billion and imports decreased $1.4 billion to $4.5 billion.

For more information, read the full report.