by calculated risk 2024/11/05 08:30:00 AM
Census Bureau and Bureau of Economic Analysis reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today. The goods and services deficit in September was $84.4 billion.the revised figure increased by $13.6 billion from $70.8 billion in August.
Exports in September were $267.9 billion, a decrease of $3.2 billion from exports in August. Imports in September were $352.3 billion, an increase of $10.3 billion from August imports.
Emphasis added
Click on the graph to see a larger image.
In September, exports decreased and imports increased.
Exports increased by 2.4% compared to the previous year. Imports increased by 8.8% from the previous year.
Both imports and exports decreased significantly due to the impact of the new coronavirus infection, but have since picked up and have recently been increasing overall.
The second graph shows the US trade deficit with and without oil.
The blue line is the total deficit, the black line is the oil deficit, and the red line is the trade deficit excluding petroleum products.
Note that net exports of petroleum products are positive and increasing.
The trade deficit with China increased to $31.8 billion from $28.4 billion the previous year.
Some importers may be trying to beat potential tariffs.
