Trade Deficit Expands to $64.26B
The U.S. international trade in goods and services, also known as the FT-900, is published monthly by the Bureau of Economic Analysis with data going back to 1992. The monthly reports include revisions that go back several months. This trade balance measures the difference in value between imported and exported goods and services.
Here is an excerpt from the latest report:
The U.S. monthly international trade deficit increased in October 2023 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $61.2 billion in September (revised) to $64.3 billion in October as exports decreased and imports increased. The goods deficit increased $3.5 billion in October to $89.8 billion. The services surplus increased $0.4 billion in October to $25.5 billion.
In October, the trade deficit expanded by 5.1% to $64.26B. The latest reading was worse than the forecast of $64.30B.The deficit has shrunk by 18.0% compared to one year ago.
This indicator is somewhat volatile, with an 8.7% absolute average monthly change. The latest data point saw a 5.1% month-over-month change. Here is a snapshot that gives a better sense of the extreme volatility of this indicator.