The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $55.5 billion in October, up $0.9 billion from $54.6 billion in September, revised. The October deficit is the largest recorded since October 2008.
October exports were $211.0 billion, $0.3 billion less than September exports. October imports were $266.5 billion, $0.6 billion more than September imports. The October increase in the goods and services deficit reflected an increase in the goods deficit of $0.9 billion to $78.1 billion and a decrease in the services surplus of $0.1 billion to $22.6 billion.
Year‐to‐date, the goods and services deficit increased $51.3 billion, or 11.4 percent, from the same period in 2017. Exports increased $149.3 billion or 7.7 percent. Imports increased $200.6 billion or 8.4 percent.
The October figures show surpluses, in billions of dollars, with South and Central America ($3.7), Hong Kong ($2.4), Brazil ($0.7), and Singapore ($0.6).
Deficits were recorded, in billions of dollars, with China ($38.2), European Union ($15.1), Mexico ($6.4), Germany ($5.8), Japan ($5.5), Italy ($2.7), OPEC ($2.3), Canada ($2.0), India ($2.0), Saudi Arabia ($1.8), South Korea ($1.8), Taiwan ($1.2), France ($1.1), and United Kingdom (less than $0.1).