Goods and Services Deficit Shrinks in October

The goods and services deficit was $67.1 billion in October, down $14.3 billion from $81.4 billion in September, according to a new report.
goods and services deficit october 2021

The goods and services deficit was $67.1 billion in October, down $14.3 billion from $81.4 billion in September, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

October exports were $223.6 billion, $16.8 billion more than the previous month. October imports were $290.7 billion, about $2.5 billion more than September imports.

The decrease in the goods and services deficit reflected a decrease in the goods deficit of $14 billion to $83.9 billion and an increase in the services surplus of $0.3 billion to $16.8 billion.

Year-to-date, the goods and services deficit increased $161.7 billion, or 29.7%, from the same period in 2020.

Exports increased $315.1 billion, or 17.9%. Imports increased $476.8 billion, or 20.7%.

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