November 7, 2023

The U.S. goods and services trade deficit increased from $58.7 billion in August (revised) to $61.5 billion in September, as imports increased more than exports. The goods deficit increased $1.7 billion to $86.3 billion, and the services surplus decreased $1.2 billion to $24.8 billion.

Monthly Goods and Services
 
Exports of goods and services increased $5.7 billion, or 2.2 percent, in September to $261.1 billion. Exports of goods increased $5.3 billion, and exports of services increased $0.3 billion.
  • The increase in exports of goods reflected increases in industrial supplies and materials ($1.4 billion), in foods, feeds, and beverages ($1.4 billion), and in other goods ($0.8 billion).
     
  • The increase in exports of services reflected increases in travel ($0.3 billion) and in transport ($0.1 billion).

Imports of goods and services increased $8.6 billion, or 2.7 percent, in September to $322.7 billion. Imports of goods increased $7.0 billion, and imports of services increased $1.5 billion.

  • The increase in imports of goods reflected increases in consumer goods ($2.0 billion), in automotive vehicles, parts, and engines ($1.9 billion), in capital goods ($1.6 billion), and in industrial supplies and materials ($1.2 billion).
     
  • The increase in imports of services reflected increases in transport ($0.8 billion) and in travel ($0.7 billion).

Real, or inflation-adjusted, statistics are also available for trade in goods. The real goods deficit increased 3.3 percent in September, compared to a 2.5 percent increase in the nominal deficit. Real exports of goods increased 2.0 percent, compared to a 2.9 percent increase in nominal exports. Real imports of goods increased 2.5 percent, compared to a 2.7 percent increase in nominal imports.

For more information, read the full release.