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.

Exports (Exhibits 3, 6, and 7)

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.

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 (Exhibits 4, 6, and 8)

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.

Imports of services increased $0.3 billion to $45.2 billion in October.

• Transport increased $0.3 billion.

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

The October figures show surpluses, in billions of dollars, with South and Central America ($3.9), Hong Kong ($2.3), Brazil ($1.1), Singapore ($0.7), Saudi Arabia ($0.3), and United Kingdom ($0.2). Deficits were recorded, in billions of dollars, with China ($31.9), European Union ($12.0), Mexico ($6.0), Japan ($5.9), Germany ($5.3), Italy ($2.7), South Korea ($2.7), India ($2.1), Canada ($1.9), OPEC ($1.6), France ($1.6), and Taiwan ($1.6).

• The balance with members of OPEC shifted from a surplus of $0.6 billion to a deficit of $1.6 billion in October. Exports decreased $0.9 billion to $4.3 billion and imports increased $1.3 billion to $5.9 billion.
• The deficit with China increased $2.1 billion to $31.9 billion in October. Exports decreased $0.8 billion to $10.6 billion and imports increased $1.2 billion to $42.5 billion.
• The deficit with the European Union decreased $2.5 billion to $12.0 billion in October. Exports increased $1.4 billion to $25.0 billion and imports decreased $1.1 billion to $37.0 billion.

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.