U.S. Trade Deficit Decreases in October

According to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, the U.S. trade deficit decreased in October to $43.4 billion. October U.S. exports increased $2.3 billion, reaching $197.5 billion, while U.S. imports also increased by $2.1 billion, reaching $241 billion.

“Year-to-date, the goods and services deficit increased $20.5 billion, or 5.1 percent, from the same period in 2013. Exports increased $57.8 billion or 3.1 percent. Imports increased $78.3 billion or 3.4 percent.”

The increase of exports of goods in October was largely exports of capital goods, civilian aircraft, generators, transformers, and accessories. U.S. imports of automotive vehicles, parts, and engines and capital goods increased in October.

The U.S. trade deficit showed surpluses with South and Central America, Brazil, and the United Kingdom. Conversely, U.S. trade with China, European Union, Germany, Japan, Mexico, Canada, South Korea, OPEC, Italy, India, Saudi Arabia, and France showed deficits.

 U.S. Census Bureau & U.S. Bureau for Economic Analysis