U.S. DEFICIT UP TO $48.7 BLN
BEA - 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 $48.7 billion in October, up $3.8 billion from $44.9 billion in September, revised. October exports were $195.9 billion, down less than $0.1 billion from September exports. October imports were $244.6 billion, $3.8 billion more than September imports.
The October increase in the goods and services deficit reflected an increase in the goods deficit of $3.8 billion to $69.1 billion and a decrease in the services surplus of less than $0.1 billion to $20.3 billion.
Year-to-date, the goods and services deficit increased $49.1 billion, or 11.9 percent, from the same period in 2016. Exports increased $97.5 billion or 5.3 percent. Imports increased $146.6 billion or 6.5 percent.
The average goods and services deficit increased $1.2 billion to $46.0 billion for the three months ending in October.
- Average exports of goods and services increased $0.8 billion to $195.2 billion in October.
- Average imports of goods and services increased $2.0 billion to $241.2 billion in October.
Year-over-year, the average goods and services deficit increased $5.1 billion from the three months ending in October 2016.
- Average exports of goods and services increased $8.2 billion from October 2016.
- Average imports of goods and services increased $13.2 billion from October 2016.
Exports of goods decreased $0.3 billion to $130.3 billion in October.
Exports of goods on a Census basis decreased $0.5 billion.
- Foods, feeds, and beverages decreased $1.3 billion.
- Soybeans decreased $1.4 billion.
- Capital goods decreased $1.2 billion.
- Civilian aircraft decreased $1.1 billion.
- Industrial supplies and materials increased $2.6 billion.
Net balance of payments adjustments increased $0.2 billion.
Exports of services increased $0.3 billion to $65.6 billion in October.
- Financial services increased $0.1 billion.
- Other business services, which includes research and development services; professional and management services;
- and technical, trade-related, and other services, increased $0.1 billion.
Imports of goods increased $3.5 billion to $199.4 billion in October.
Imports of goods on a Census basis increased $3.5 billion.
- Industrial supplies and materials increased $1.8 billion.
- Crude oil increased $1.5 billion.
- Other goods increased $1.1 billion.
- Consumer goods increased $0.8 billion.
- Cell phones and other household goods increased $0.3 billion.
Net balance of payments adjustments decreased less than $0.1 billion.
Imports of services increased $0.3 billion to $45.2 billion in October.
- Transport increased $0.3 billion.
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