Background

The U.S. trade deficit in goods and services rose for the fourth straight month in September, up 1.3 percent to $54.0 billion, according to trade statistics released by the Department of Commerce. Exports were up 1.5 percent to $212.6 billion while imports rose 1.4 percent to a record-high $266.6 billion. For the year to date, the total trade deficit is up 10.1 percent from 2017 as exports have risen 8.2 percent and imports have increased 8.6 percent.  

The deficit in goods trade rose 0.8 percent to $77.2 billion in September. Imports of goods gained 1.6 percent to $219.1 billion, including increases of $500 million each for telecommunications equipment, civilian aircraft engines, and textile, apparel, and household goods and $400 million each for computers, computer accessories, and toys, games, and sporting goods. Exports of goods were up 2.1 percent to $141.9 billion, including increases of $1.2 billion in civilian aircraft, $.1 billion in petroleum products, and $1.0 billion in non-monetary gold along with a $700 million decrease in soybeans.

The services surplus slipped 0.4 percent to $23.2 billion as imports rose 0.8 percent to $47.5 billion and exports gained 0.4 percent to $70.7 billion.

Country/region

Deficit

% Change

Surplus

% Change

China

$37.4 billion

+8.7

   

European Union

$14.2 billion

-4.7

   

Mexico

$7.6 billion

-12.6

   

Germany

$5.2 billion

-1.9

   

Japan

$4.9 billion

-15.5

   

Italy

$2.3 billion

-14.8

   

Canada

$2.2 billion

-26.7

   

South Korea

$2.0 billion

+11.1

   

India

$1.7 billion

-10.5

   

France

$1.5 billion

+15.4

   

Saudi Arabia

$1.5 billion

+36.4

   

Taiwan

$0.9 billion

+28.6

   

United Kingdom

$0.2 billion

+100.0

   

South/Central America

   

$3.2 billion

-5.9

Hong Kong

   

$2.4 billion

+4.3

Brazil

   

$0.6 billion

+20.0

Singapore

   

$0.1 billion

-83.3

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