Research >> Economics
Goods and Services Deficit Increased in September 2022
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The nation's international trade deficit in goods and services increased to $73.3 billion in September from $65.7 billion in August (revised), as imports increased and exports decreased. U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $73.3 billion in September, up $7.6 billion from $65.7 billion in August, revised.
Exports, Imports, and Balance
September exports were $258.0 billion, $2.8 billion less than August exports. September imports were $331.3 billion, $4.8 billion more than August imports. The September increase in the goods and services deficit reflected an increase in the goods deficit of $6.6 billion to $92.7 billion and a decrease in the services surplus of $1.0 billion to $19.5 billion. Year-to-date, the goods and services deficit increased $125.6 billion, or 20.2 percent, from the same period in 2021. Exports increased $378.1 billion or 20.2 percent. Imports increased $503.6 billion or 20.2 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $2.5 billion to $69.8 billion for the three months ending in September.
• Average exports decreased $0.3 billion to $259.5 billion in September.
• Average imports decreased $2.8 billion to $329.3 billion in September.
Year-over-year, the average goods and services deficit decreased $3.2 billion from the three months ending in September 2021.
• Average exports increased $45.6 billion from September 2021.
• Average imports increased $42.4 billion from September 2021.
Posted: November 3, 2022 Thursday 08:30 AM