October 2016 Trade Gap is $42.6 Billion

The U.S. monthly international trade deficit increased in October 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $36.2 billion in September (revised) to $42.6 billion in October, as exports decreased and imports increased. The previously published September deficit was $36.4 billion. The goods deficit increased $6.3 billion in October to $63.4 billion. The services surplus decreased $0.1 billion in October to $20.8 billion.

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Exports
Exports of goods and services decreased $3.4 billion, or 1.8 percent, in October to $186.4 billion. Exports of goods decreased $3.5 billion and exports of services increased $0.1 billion.

  • The decrease in exports of goods reflected decreases in foods, feeds, and beverages ($1.4 billion), in industrial supplies and materials ($1.0 billion), and in consumer goods ($0.9 billion).
  • The increase in exports of services mostly reflected an increase in transport ($0.1 billion), which includes freight and port services and passenger fares.

Imports
Imports of goods and services increased $3.0 billion, or 1.3 percent, in October to $229.0 billion. Imports of goods increased $2.8 billion and imports of services increased $0.2 billion.

  • The increase in imports of goods mostly reflected increases in consumer goods ($2.4 billion) and in capital goods ($1.1 billion). A decrease in automotive vehicles, parts, and engines ($0.7 billion) partly offset the increases.
  • The increase in imports of services reflected an increase in transport ($0.2 billion).

For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services: October 2016.

For more information, read the full report.


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