The US Department of Commerce's Census Bureau reported Tuesday that in October 2012, imports of goods and services declined 2.1 percent from September to reach $222.8 billion, and exports reached $180.5 billion, down 3.6 percent over this period.
As a result, the October 2012 international trade deficit increased to $42.2 billion from September. Year-over-year exports in the month of October 2012 also outperformed October of the prior year with a $1.8 billion increase in exports and a $3.5 billion improvement in the total trade deficit. Moreover, US merchandise exports to China, Mexico and Brazil were at record levels in October, and the merchandise trade surplus with South and Central America was the highest on record, according to a statement from US Secretary of Commerce Rebecca Blank.