The U.S. trade deficit in goods and services fell 4.8 percent in September from a 14-year high the previous month. Imports and exports both increased for the fourth straight month.
According to trade statistics released Nov. 4 by the Department of Commerce, the monthly trade deficit of $63.9 billion reflected a 2.6 percent increase in exports to $176.4 billion and a 0.5 percent rise in imports to $240.2 billion. The year-to-date deficit was up 8.6 percent from September 2019 as exports fell 17.4 percent and imports lost 12.4 percent.
The deficit in goods trade decreased 3.7 percent from August to $80.7 billion. Imports of goods edged up 0.3 percent to $203.5 billion, including increases of $2.4 billion in passenger cars and $800 million in capital goods along with decreases of $2.3 billion in cell phones and other household goods and $1.3 billion in industrial supplies and materials. Exports of goods were up 3.1 percent to $122.8 billion, including increases of $1.4 billion in soybeans, $400 million in telecommunications equipment, $300 million in industrial engines, and $200 million in computer accessories.
The services surplus saw a small increase of less than $0.1 billion on $16.8 billion. Imports rose 1.7 percent to $36.8 billion and exports climbed 1.3 percent to $53.6 billion.
Monthly changes in U.S. trade deficits or surpluses with specific trading partners in September included the following.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$24.3 billion
|
-8.0
|
|
|
|
European Union
|
$17.3 billion
|
+10.2
|
|
|
|
Mexico
|
$10.7 billion
|
-14.4
|
|
|
|
Germany
|
$5.6 billion
|
+21.7
|
|
|
|
Japan
|
$5.6 billion
|
+30.2
|
|
|
|
Italy
|
$2.7 billion
|
+3.8
|
|
|
|
India
|
$2.7 billion
|
+17.4
|
|
|
|
South Korea
|
$2.2 billion
|
0
|
|
|
|
Canada
|
$1.4 billion
|
+16.7
|
|
|
|
France
|
$1.1 billion
|
-50.0
|
|
|
|
South/Central America
|
|
|
$2.5 billion
|
+4.2
|
|
Hong Kong
|
|
|
$1.4 billion
|
-23.5
|
|
Brazil
|
|
|
$1.1 billion
|
+10.0
|
|
United Kingdom
|
|
|
$0.8 billion
|
-20.0
|
|
Saudi Arabia
|
|
|
$0.2 billion
|
0
|
|
Singapore
|
|
|
$0.3 billion
|
+200.0
|
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