by Calculated Risk on 12/04/2015 10:04:00 AM
Friday, December 04, 2015
Trade Deficit increased in October to $43.9 Billion
The Department of Commerce reported:
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 $43.9 billion in October, up $1.4 billion from $42.5 billion in September, revised. October exports were $184.1 billion, $2.7 billion less than September exports. October imports were $228.0 billion, $1.3 billion less than September imports.The trade deficit was larger than the consensus forecast of $40.6 billion.
The first graph shows the monthly U.S. exports and imports in dollars through October 2015.
Imports and exports decreased in October.
Exports are 11% above the pre-recession peak and down 7% compared to October 2014; imports are 2% below the pre-recession peak, and down 5% compared to October 2014.
The second graph shows the U.S. trade deficit, with and without petroleum.
Oil imports averaged $40.12 in October, down from $42.72 in September, and down from $88.47 in October 2014. The petroleum deficit has generally been declining and is the major reason the overall deficit has declined since early 2012.
The trade deficit with China increased to $33.0 billion in October, from $32.5 billion in October 2014. The deficit with China is a substantial portion of the overall deficit.