The 2020 Mid-Year Economic Update_long

The Goods and Services Deficit Decreased in October

Year-to-date, the goods and services deficit increased 1.3%.

The goods and services deficit was $47.2 billion in October, down $3.9 billion from $51.1 billion in September, revised, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

October exports were $207.1 billion, $0.4 billion less than September exports. October imports were $254.3 billion, $4.3 billion less than September imports.

The October decrease in the goods and services deficit reflected a decrease in the goods deficit of $3.7 billion to $68.0 billion and an increase in the services surplus of $0.2 billion to $20.8 billion.

Year-to-date, the goods and services deficit increased $6.9 billion, or 1.3%, from the same period in 2018. Exports decreased $0.8 billion or less than 0.1%. Imports increased $6.1 billion or 0.2%.

Exports of goods decreased $0.8 billion to $136.1 billion in October. Exports of services increased $0.3 billion to $71.1 billion.

Imports of goods decreased $4.5 billion to $204.1 billion in October. Imports of services increased $0.1 billion to $50.2 billion.

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