The October increase in the goods and services deficit reflected an increase in the goods deficit of $2.1 billion to $63.1 billion and an increase in the services surplus of $0.6 billion to $19.2 billion.
Exports fell 1.4 percent to $184.1 billion, the lowest level since October 2012. Exports of goods were the lowest since June 2011. Food exports were the lowest since March 2012, while exports of industrial supplies and materials were the weakest in five years. Petroleum exports hit their lowest level since December 2010.
Imports dropped by 0.6 percent to $228.0 billion in October. Imports of industrial supplies and materials fell to the lowest level since May 2009. Petroleum imports were the lowest since November 2003, reflecting increased domestic energy production and lower oil prices.
The October figures show surpluses, in billions of dollars, with South and Central America ($2.8), United Kingdom ($0.6), and OPEC ($0.4). Deficits were recorded, in billions of dollars, with China ($30.2), European Union ($13.3), Mexico ($6.3), Germany ($6.2), Japan ($5.3), Italy ($2.3), South Korea ($2.3), India ($2.0), France ($1.7), Canada ($0.2), Brazil ($0.2), and Saudi Arabia (less than $0.1).