December 6, 2022

The U.S. monthly international trade deficit increased in October 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $74.1 billion in September (revised) to $78.2 billion in October, as imports increased and exports decreased. The goods deficit increased $6.1 billion in October to $99.6 billion. The services surplus increased $2.1 billion in October to $21.4 billion.

Monthly Goods and Services Trade Deficit Dec6

Exports of goods and services decreased $1.9 billion, or 0.7 percent, in October to $256.6 billion. Exports of goods decreased $3.7 billion and exports of services increased $1.8 billion.

  • The decrease in exports of goods reflected decreases in industrial supplies and materials ($2.4 billion) and in consumer goods ($2.0 billion). An increase in foods, feeds, and beverages ($0.5 billion) partly offset the decreases.
  • The increase in exports of services reflected increases in travel ($0.8 billion), in transport ($0.4 billion), and in other business services ($0.2 billion).

Imports of goods and services increased $2.2 billion, or 0.6 percent, in October to $334.8 billion. Imports of goods increased $2.4 billion and imports of services decreased $0.2 billion.

  • The increase in imports of goods reflected increases in other goods ($1.4 billion), in industrial supplies and materials ($1.1 billion), and in automotive vehicles, parts, and engines ($0.7 billion). A decrease in consumer goods ($0.6 billion) partly offset the increases.
  • The decrease in imports of services reflected a decrease in transport ($0.5 billion). Increases in travel ($0.1 billion) and in telecommunications, computer, and information services ($0.1 billion) partly offset the decrease.

For more information, read the full release.