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Thursday, December 06, 2018

Trade Deficit increased to $55.5 Billion in October

by Calculated Risk on 12/06/2018 08:52:00 AM

From the Department of Commerce reported:

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.

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.
U.S. Trade Exports Imports Click on graph for larger image.

Exports decreased and imports increased in October.

Exports are 28% above the pre-recession peak and up 6% compared to October 2017; imports are 15% above the pre-recession peak, and up 9% compared to October 2017.

In general, trade has been picking up.

The second graph shows the U.S. trade deficit, with and without petroleum.

U.S. Trade Deficit The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Oil imports averaged $61.23 in October, down from $61.35 in September, and up from $47.27 in October 2017.

The trade deficit with China increased to $43.1 billion in October, from $35.2 billion in October 2017.