Research >> Economics
Goods and Services Deficit Increased in October 2022
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.2 billion in October, up $4.0 billion from $74.1 billion in September, revised.
Exports, Imports, and Balance
October exports were $256.6 billion, $1.9 billion less than September exports. October imports were $334.8 billion, $2.2 billion more than September imports. The October increase in the goods and services deficit reflected an increase in the goods deficit of $6.1 billion to $99.6 billion and an increase in the services surplus of $2.1 billion to $21.4 billion. Year-to-date, the goods and services deficit increased $136.9 billion, or 19.9 percent, from the same period in 2021. Exports increased $415.3 billion or 19.8 percent. Imports increased $552.2 billion or 19.8 percent.
Three-Month Moving Averages
The average goods and services deficit increased $2.5 billion to $72.7 billion for the three months ending in October.
• Average exports decreased $1.4 billion to $258.9 billion in October.
• Average imports increased $1.1 billion to $331.6 billion in October.
Year-over-year, the average goods and services deficit increased less than $0.1 billion from the three months ending in October 2021.
• Average exports increased $41.2 billion from October 2021.
• Average imports increased $41.2 billion from October 2021.
Posted: December 6, 2022 Tuesday 08:30 AM