The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced Wednesday that total October exports of $192.7 billion and imports of $233.3 billion resulted in a goods and services deficit of $40.6 billion, down from $43.0 billion in September, revised. October exports marked an all-time monthly high, at $3.4 billion more than September exports of $189.3 billion. October imports were $1.0 billion more than September imports of $232.3 billion.
"Today's data show that US exports are continuing to support our economic recovery. At the Department of Commerce, one of the top priorities of our ‘Open for Business Agenda' is expanding our exporter base and creating more opportunities for American goods and services to reach new markets," said US Secretary of Commerce Penny Pritzker. "US exports support nearly 10 million good-paying American jobs, and we have added 1.3 million export-supported jobs since 2009. The Department of Commerce is committed to building on that success through an aggressive trade and investment agenda that helps more US companies compete in the global marketplace."
The September to October increase in exports of goods reflected increases in industrial supplies and materials ($1.5 billion); consumer goods ($1.0 billion); foods, feeds, and beverages ($0.6 billion); capital goods ($0.3 billion); and other goods ($0.2 billion). A decrease occurred in automotive vehicles, parts, and engines ($0.2 billion).
The September to October increase in imports of goods reflected increases in industrial supplies and materials ($0.8 billion); consumer goods ($0.5 billion); other goods ($0.4 billion); and foods, feeds, and beverages ($0.3 billion). Decreases occurred in automotive vehicles, parts, and engines ($1.0 billion) and capital goods ($0.3 billion).