The U.S. monthly international trade deficit increased in October 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $62.1 billion in September (revised) to $63.1 billion in October, as imports increased more than exports. The previously published September deficit was $63.9 billion. The goods deficit increased $0.6 billion in October to $81.4 billion. The services surplus decreased $0.4 billion in October to $18.3 billion.
Exports
Exports of goods and services increased $4.0 billion, or 2.2 percent, in October to $182.0 billion. Exports of goods increased $3.7 billion and exports of services increased $0.3 billion.
- The increase in exports of goods reflected increases in industrial supplies and materials ($1.6 billion) and in capital goods ($1.5 billion).
- The increase in exports of services reflected increases in travel ($0.2 billion) and in transport ($0.2 billion).
Imports
Imports of goods and services increased $5.0 billion, or 2.1 percent, in October to $245.1 billion. Imports of goods increased $4.3 billion and imports of services increased $0.7 billion.
- The increase in imports of goods reflected increases in consumer goods ($1.4 billion), in capital goods ($1.4 billion), in industrial supplies and materials ($1.3 billion), and in automotive vehicles, parts, and engines ($1.0 billion).
- The increase in imports of services reflected increases in travel ($0.3 billion) and in transport ($0.3 billion).
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