Skip Header

The Goods and Services Deficit Increased to $55.5 billion in October 2018

Thu Dec 06 2018

Rachel Butler 

Component ID: #ti35040388

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $55.5 billion in October, up $0.9 billion from $54.6 billion in September, revised.

Component ID: #ti1703994208

October exports were $211.0 billion, $0.3 billion less than September exports. October imports were $266.5 billion, $0.6 billion more than September imports.

The October increase in the goods and services deficit reflected an increase in the goods deficit of $0.9 billion to $78.1 billion and a decrease in the services surplus of $0.1 billion to $22.6 billion.

Year-to-date, the goods and services deficit increased $51.3 billion, or 11.4 percent, from the same period in 2017. Exports increased $149.3 billion or 7.7 percent. Imports increased $200.6 billion or 8.4 percent.

Component ID: #ti1372825624

Exports (Exhibits 3, 6, and 7)

Component ID: #ti806855935

Exports of goods decreased $0.4 billion to $141.5 billion in October.

Exports of goods on a Census basis decreased $0.4 billion.

  • Foods, feeds, and beverages decreased $0.7 billion.
    • Soybeans decreased $0.8 billion.
  • Capital goods decreased $0.5 billion.
    • Civilian aircraft engines decreased $0.3 billion.
    • Civilian aircraft decreased $0.3 billion.
  • Other goods increased $0.5 billion.
  • Industrial supplies and materials increased $0.3 billion.

Exports of services increased $0.1 billion to $69.6 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.
  • Transport decreased $0.1 billion.

Component ID: #ti1964508838

Imports (Exhibits 4, 6, and 8)

Component ID: #ti489159703

Imports of goods increased $0.5 billion to $219.6 billion in October.

Imports of goods on a Census basis increased $0.3 billion.

  • Consumer goods increased $2.0 billion.
    • Pharmaceutical preparations increased $1.5 billion.
  • Other goods increased $0.8 billion.
  • Automotive vehicles, parts, and engines increased $0.7 billion.
  • Capital goods decreased $3.2 billion.
    • Telecommunications equipment decreased $1.0 billion.
    •  Computer accessories decreased $0.8 billion.
    • Computers decreased $0.7 billion.

Imports of services increased $0.2 billion to $46.9 billion in October.

  • Travel (for all purposes including education) increased $0.2 billion.

Component ID: #ti2111099288

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

Component ID: #ti2084993078

The October figures show surpluses, in billions of dollars, with South and Central America ($3.7), Hong Kong ($2.4), Brazil ($0.7), and Singapore ($0.6). Deficits were recorded, in billions of dollars, with China ($38.2), European Union ($15.1), Mexico ($6.4), Germany ($5.8), Japan ($5.5), Italy ($2.7), OPEC ($2.3), Canada ($2.0), India ($2.0), Saudi Arabia ($1.8), South Korea ($1.8), Taiwan ($1.2), France ($1.1), and United Kingdom (less than $0.1).

  • The deficit with the European Union increased $0.9 billion to $15.1 billion in October. Exports decreased $0.9 billion to $26.3 billion and imports decreased less than $0.1 billion to $41.3 billion.
  • The deficit with China increased $0.7 billion to $38.2 billion in October. Exports decreased $2.6 billion to $7.6 billion and imports decreased $1.9 billion to $45.7 billion.
  • The deficit with Mexico decreased $1.2 billion to $6.4 billion in October. Exports decreased $0.1 billion to $22.4 billion and imports decreased $1.3 billion to $28.8 billion.

X
  Is this page helpful?
Thumbs Up Image Yes    Thumbs Down Image No
X
Comments or suggestions?
No, thanks
255 characters remaining
X
Thank you for your feedback.
Comments or suggestions?
Back to Header