The U.S. monthly international trade deficit decreased in October 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $81.4 billion in September (revised) to $67.1 billion in October, as exports increased more than imports. The previously published September deficit was $80.9 billion. The goods deficit decreased $14.0 billion in October to $83.9 billion. The services surplus increased $0.3 billion in October to $16.8 billion.
Exports of goods and services increased $16.8 billion, or 8.1 percent, in October to $223.6 billion. Exports of goods increased $15.8 billion and exports of services increased $1.0 billion.
- The increase in exports of goods reflected increases in industrial supplies and materials ($6.4 billion), in capital goods ($3.1 billion), in foods, feeds, and beverages ($2.1 billion), in consumer goods ($1.6 billion), and in automotive vehicles, parts, and engines ($1.5 billion).
- The increase in exports of services reflected increases in travel ($0.4 billion), in other business services ($0.3 billion), and in charges for the use of intellectual property ($0.1 billion).
Imports of goods and services increased $2.5 billion, or 0.9 percent, in October to $290.7 billion. Imports of goods increased $1.8 billion and imports of services increased $0.7 billion.
- The increase in imports of goods reflected increases in automotive vehicles, parts, and engines ($1.5 billion) and in consumer goods ($0.9 billion). Decreases in industrial supplies and materials ($0.5 billion) and in capital goods ($0.5 billion) partly offset the increases.
- The increase in imports of services reflected increases in transport ($0.4 billion) and in travel ($0.1 billion).
The global COVID-19 pandemic and the economic recovery continued to impact international trade. The full economic effects of the pandemic cannot be quantified in the statistics because the impacts are generally embedded in source data and cannot be separately identified. For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, October 2021.