Research >> Economics
Goods and Services Deficit Increased in October 2012
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The Nation’s international trade deficit in goods and services increased to $42.2 billion in October from $40.3 billion in September (revised), as exports decreased more than imports.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total October exports of $180.5 billion and imports of $222.8 billion resulted in a goods and services deficit of $42.2 billion, up from $40.3 billion in September, revised. October exports were $6.8 billion less than September exports of $187.3 billion. October imports were $4.9 billion less than September imports of $227.6 billion.
In October, the goods deficit increased $1.8 billion from September to $59.2 billion, and the services surplus decreased $0.1 billion from September to $16.9 billion. Exports of goods decreased $6.5 billion to $127.5 billion, and imports of goods decreased $4.6 billion to $186.6 billion. Exports of services decreased $0.3 billion to $53.0 billion, and imports of services decreased $0.2 billion to $36.1 billion.
The goods and services deficit decreased $3.5 billion from October 2011 to October 2012. Exports were up $1.8 billion, or 1.0 percent, and imports were down $1.7 billion, or 0.8 percent.
Posted: December 11, 2012 Tuesday 08:30 AM