FOR IMMEDIATE RELEASE AT 8:30 A.M. EST, TUESDAY, DECEMBER 6, 2016

										CB 16-198
										BEA 16-65
										FT-900 (16-10)

				     U.S. Census Bureau
			      U.S. Bureau of Economic Analysis
					    NEWS
		     U.S. Department of Commerce * Washington, DC 20230
		       U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES

				       October 2016

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce,
announced today that the goods and services deficit was $42.6 billion in October, up $6.4 billion
from $36.2 billion in September, revised. October exports were $186.4 billion, $3.4 billion less
than September exports. October imports were $229.0 billion, $3.0 billion more than September imports.

The October increase in the goods and services deficit reflected an increase in the goods deficit
of $6.3 billion to $63.4 billion and a decrease in the services surplus of $0.1 billion to $20.8
billion.

Year-to-date, the goods and services deficit decreased $8.8 billion, or 2.1 percent, from the
same period in 2015. Exports decreased $58.7 billion or 3.1 percent. Imports decreased $67.5
billion or 2.9 percent.

Goods and Services Three-Month Moving Averages (Exhibit 2)

The average goods and services deficit increased $1.0 billion to $39.8 billion for the three months
ending in October.
    * Average exports of goods and services increased less than $0.1 billion to $188.0 billion
      in October.
    * Average imports of goods and services increased $1.0 billion to $227.8 billion in October.

Year-over-year, the average goods and services deficit decreased $2.6 billion from the three
months ending in October 2015.
    * Average exports of goods and services increased $1.5 billion from October 2015.
    * Average imports of goods and services decreased $1.2 billion from October 2015.

Exports (Exhibits 3, 6, and 7)

Exports of goods decreased $3.5 billion to $123.1 billion in October.
    Exports of goods on a Census basis decreased $3.2 billion.
        * Foods, feeds, and beverages decreased $1.4 billion.
            o Soybeans decreased $1.0 billion.
            o Corn decreased $0.5 billion.
        * Industrial supplies and materials decreased $1.0 billion.
            o Nonmonetary gold decreased $0.5 billion.
            o Fuel oil decreased $0.5 billion.
        * Consumer goods decreased $0.9 billion.
    Net balance of payments adjustments decreased $0.3 billion.

Exports of services increased $0.1 billion to $63.3 billion in October.
        * Transport, which includes freight and port services and passenger fares, increased $0.1
	billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods increased $2.8 billion to $186.5 billion in October.
    Imports of goods on a Census basis increased $2.7 billion.
        * Consumer goods increased $2.4 billion.
            o Pharmaceutical preparations increased $0.7 billion.
            o Cell phones and other household goods increased $0.4 billion.
        * Capital goods increased $1.1 billion.
            o Computer accessories increased $0.6 billion.
        * Automotive vehicles, parts, and engines decreased $0.7 billion.
    Net balance of payments adjustments increased $0.1 billion.

Imports of services increased $0.2 billion to $42.4 billion in October.
        * Transport increased $0.2 billion.

Real Goods in 2009 Dollars – Census Basis (Exhibit 11)

The real goods deficit increased $6.2 billion to $60.3 billion in October.
    * Real exports of goods decreased $3.6 billion to $120.5 billion.
    * Real imports of goods increased $2.5 billion to $180.9 billion.

Revisions

Exports and imports of goods and services were revised for April through September 2016 to
incorporate more comprehensive and updated quarterly and monthly data.

Revisions to September exports
    * Exports of goods were revised upward $0.5 billion.
    * Exports of services were revised upward $0.1 billion.

Revisions to September imports
    * Imports of goods were revised upward $0.1 billion.
    * Imports of services were revised upward $0.2 billion.

Goods by Selected Countries and Areas: Monthly –  Census Basis (Exhibit 19)

The October figures show surpluses, in billions of dollars, with Hong Kong ($2.6), South and Central
America ($1.8), Singapore ($1.3), and Brazil ($0.1). Deficits were recorded, in billions of dollars,
with China ($28.9), European Union ($12.9), Mexico ($5.8), Japan ($5.8), Germany ($4.7),
India ($2.4), Italy ($2.2), OPEC ($2.1), Canada ($1.7), France ($1.6), South Korea ($1.4),
Taiwan ($1.0), United Kingdom ($0.7), and Saudi Arabia ($0.2).

    * The deficit with China increased $2.0 billion to $28.9 billion in October. Exports increased
      $0.5 billion to $10.6 billion and imports increased $2.4 billion to $39.5 billion.
    * The balance with Canada shifted from a surplus of $0.2 billion in September to a deficit
      of $1.7 billion in October. Exports decreased $0.9 billion to $22.0 billion and imports
      increased $1.0 billion to $23.6 billion.
    * The balance with the United Kingdom shifted from a surplus of $0.9 billion in September to
      a deficit of $0.7 billion in October. Exports decreased $1.0 billion to $4.3 billion and
      imports increased $0.6 billion to $5.0 billion.

Goods and Services by Selected Countries and Areas: Quarterly – Balance of Payments Basis (Exhibit 20)

The third quarter figures show surpluses, in billions of dollars, with South and Central America
($16.6), Hong Kong ($7.3), Brazil ($6.3), United Kingdom ($5.1), Canada ($4.4), Singapore ($4.4),
OPEC ($3.8), and Saudi Arabia ($2.8). Deficits were recorded, in billions of dollars, with China
($76.0), European Union ($22.3), Germany ($16.8), Mexico ($14.9), Japan ($14.0), Italy ($7.7),
India ($7.7), South Korea ($4.0), France ($3.2), and Taiwan ($1.8).

    * The surplus with the United Kingdom increased $1.9 billion to $5.1 billion in the third
      quarter. Exports increased $1.4 billion to $31.2 billion and imports decreased $0.5 billion
      to $26.1 billion.
    * The deficit with the European Union decreased $1.5 billion to $22.3 billion in the third
      quarter. Exports increased $1.1 billion to $126.0 billion and imports decreased $0.3 billion
      to $148.3 billion.
    * The deficit with China increased $2.2 billion to $76.0 billion in the third quarter. Exports
      increased $2.2 billion to $43.5 billion and imports increased $4.3 billion to $119.5 billion.

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments
basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics
and details for goods on a Census basis, are available in Exhibits 1-20b of this release. For
information on data sources, definitions, revision procedures, and scheduled release dates through
December 2017, see the information section on page A-1 of this release. The next release is January
6, 2017.

NOTE: For definitions of goods on a balance of payments basis, goods on a Census basis, and net
balance of payments adjustments, see the information section on page A-1 of this release.