US Trade Deficit Narrows in October on Record Exports


United States trade gap shrank to $40.6 billion in October of 2013, down from $43.0 billion in September. Exports increased 1.8 percent to $192.7 billion, while imports rose 0.4 percent to $233.3 billion.


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). Exports of goods to China, Canada and Mexico were the highest on record. Sales to the European Union also rose.

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).

The October 2012 to October 2013 increase in exports of goods reflected increases in industrial supplies and materials ($3.2 billion); capital goods ($1.5 billion); automotive vehicles, parts, and engines ($1.1 billion); consumer goods ($1.0 billion); and foods, feeds, and beverages ($1.0 billion). Other goods were virtually unchanged.

The October 2012 to October 2013 increase in imports of goods reflected increases in consumer goods ($4.4 billion); automotive vehicles, parts, and engines ($1.6 billion); capital goods ($1.4 billion); foods, feeds, and beverages ($0.9 billion); and other goods ($0.6 billion). A decrease occurred in industrial supplies and materials ($1.6 billion).

US Trade Deficit Narrows in October on Record Exports


U.S. Census Bureau | anna@tradingeconomics.com
12/4/2013 1:52:31 PM