The US trade deficit continues to rise and grows 5.4% in October

The US trade deficit continues to rise and grows 5.4% in October

The United States deficit in its foreign trade in goods and services rose 5.4% in October compared to the previous month, reaching 78.2 billion dollars, the Office of Economic Analysis (BEA).

This is the second consecutive month that this indicator has risen, after registering a fall in the previous five months, in a delicate global economic context, as a result of the war in Ukraine and the last blows of the pandemic.

In the tenth month of the year, imports recovered slightly and increased by 0.6% compared to September, to 334.8 billion dollars, thus overcoming the downward streak due to the moderation of consumption, at a time of runaway inflation (7.7% year-on-year).

Meanwhile, exports fell again, 0.7% to 256.6 billion dollars, in a context in which the dollar continues to be strong.

The deficit in October stood at 78.200 million dollars, 4,000 more than in the month of September, when it stood at 74.100 million (after a revision of the figure).

In the average of the last three months, a measure used by economists to determine the trend, the average deficit of goods and services increased by 2,500 million to 72,700 million.

Average exports decreased by 1.4 billion to $258.9 billion in October, while average imports increased by 1.1 billion to $331.6 billion.

In year-on-year terms, the deficit increased 19.9%, a total of 136.9 billion dollars, with an increase in exports of 19.8% to 415.3 billion and an increase in imports of 19.8% to 552,200 millions.

Exports of goods decreased by 3.7 billion to 176 billion in October, while exports of services increased by 1.8 billion to 80.6 billion.

In detail, there were drops in the export of supplies and industrial material (with 2,400 million less) and consumer goods (2,000 million less).

Regarding imports, those of goods increased by 2,400 million to 275,600 million, while those of services fell by 200 million to 59,200 million.

Imports of industrial supplies and materials (including crude oil and diesel) rose by 1.1 billion and automotive vehicles and parts by 700 million.

By region, the deficit with the European Union increased by 7.1 billion to 23.1 billion in October. Exports decreased by 1,200 million to 28,800 million and imports increased by 5,900 million to 51,900 million.

Meanwhile, the deficit with China decreased by 6,000 million to 26,100 million in October. Exports increased 1.4 billion to 13.6 billion, and imports decreased 4.6 billion to 39.7 billion.

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