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Goods and Services Deficit Decreased in October 2019
The nation's international trade deficit in goods and services decreased to $47.2 billion in October from $51.1 billion in September (revised), as imports decreased more than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $47.2 billion in October, down $3.9 billion from $51.1 billion in September, revised.
Exports, Imports, and Balance
October exports were $207.1 billion, $0.4 billion less than September exports. October imports were $254.3 billion, $4.3 billion less than September imports. The October decrease in the goods and services deficit reflected a decrease in the goods deficit of $3.7 billion to $68.0 billion and an increase in the services surplus of $0.2 billion to $20.8 billion. Year-to-date, the goods and services deficit increased $6.9 billion, or 1.3 percent, from the same period in 2018. Exports decreased $0.8 billion or less than 0.1 percent. Imports increased $6.1 billion or 0.2 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $1.8 billion to $50.6 billion for the three months ending in October.
• Average exports decreased $0.6 billion to $208.0 billion in October.
• Average imports decreased $2.4 billion to $258.6 billion in October.
Year-over-year, the average goods and services deficit decreased $5.3 billion from the three months ending in October 2018.
• Average exports decreased $1.2 billion from October 2018.
• Average imports decreased $6.5 billion from October 2018.
Posted: December 5, 2019 Thursday 08:30 AM