The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced on December 10 trade statistics for the month of October 2009:
Good and Services:
Exports: $136.8 billion ($3.5 billion more than September)
Imports: $169.8 billion ($0.7 billion more than September)
Balance: -$32.9 billion (ie deficit), down from $35.7 billion in September (revised stat)
Compared to October 2008, the goods and services deficit in October 2009 decreased $26.5 billion. Exports were down $12.9 billion, or 8.6%, and imports were down $39.3 billion, or 18.8%.
Goods only:
In October, exports of goods increased $3.2 billion to $93.5 billion, and imports of goods increased $0.7 billion to $138.4 billion. Thus the goods trade deficit decreased $2.6 billion from September to $44.8 billion
Services only:
Exports of services increased $0.2 billion to $43.3 billion, and imports of services increased $0.1 billion to $31.4 billion. Thus the services surplus increased $0.2 billion to $11.9 billion.
Goods (by category, Census basis)
The September to October increase in exports of goods reflected increases in capital
goods ($1.2 billion); consumer goods ($1.0 billion); other goods ($0.6 billion);
industrial supplies and materials ($0.4 billion); automotive vehicles, parts, and
engines ($0.4 billion); and foods, feeds, and beverages ($0.2 billion).
The September to October increase in imports of goods reflected increases in capital
goods ($1.1 billion); consumer goods ($1.0 billion); automotive vehicles, parts, and
engines ($0.4 billion); and foods, feeds, and beverages ($0.2 billion). Decreases
occurred in industrial supplies and materials ($1.8 billion) and other goods ($0.4
billion).
The October 2008 to October 2009 decrease in exports of goods reflected decreases in
industrial supplies and materials ($3.9 billion); capital goods ($3.8 billion);
automotive vehicles, parts, and engines ($2.1 billion); and foods, feeds, and beverages
($0.7 billion). Increases occurred in consumer goods ($0.4 billion) and other goods
($0.1 billion).
The October 2008 to October 2009 decrease in imports of goods reflected decreases in
industrial supplies and materials ($25.0 billion); capital goods ($5.2 billion);
consumer goods ($3.7 billion); automotive vehicles, parts, and engines ($1.2 billion);
foods, feeds, and beverages ($0.7 billion); and other goods ($0.7 billion).
Services
Services exports increased $0.2 billion from September to October. The increase was
more than accounted for by increases in other private services (which includes items
such as business, professional, and technical services, insurance services, and
financial services), other transportation (which includes freight and port services),
and passenger fares. A decrease in transfers under U.S. military sales contracts was
partly offsetting.
Services imports increased $0.1 billion from September to October. The increase was
mostly accounted for by an increase in passenger fares. Changes in the other categories
of services imports were small.
The October 2008 to October 2009 decrease in exports of services was $2.6 billion.
The largest decreases were in travel ($1.1 billion), other transportation ($0.8 billion),
and royalties and license fees ($0.6 billion).
The October 2008 to October 2009 decrease in imports of services was $2.5 billion.
Decreases occurred in other transportation ($1.6 billion), passenger fares ($0.8
billion), and travel ($0.5 billion).
Goods Trade by country
The October figures show trade in goods surpluses, in billions of dollars, with Hong Kong $1.6 ($1.9 for September), Australia $1.3 ($0.9), Singapore $0.9 ($0.3), and Egypt $0.4 ($0.3).
Trade in goods deficits were recorded, in billions of dollars, with China $22.7 ($22.1), OPEC countries $5.8 ($7.9), European Union $4.9 ($5.5), Mexico $4.6 ($4.6), Japan $4.4 ($4.1), Canada $2.0 ($1.5), Venezuela $1.7 ($2.0), Nigeria $1.4 ($1.9), Taiwan $0.7 ($0.7), and Korea $0.5 ($0.8).
Plus:
Advanced technology products exports were $23.7 billion in October and imports were
$29.3 billion, resulting in a deficit of $5.6 billion. October exports were $3.2
billion more than the $20.5 billion in September, while October imports were $2.8
billion more than the $26.5 billion in September.
Revisions
Goods exports for September were virtually unrevised. Goods imports for September
were revised down $0.3 billion.
Services exports for September were revised up $1.5 billion to $43.1 billion. The
revision was mostly accounted for by upward revisions in other private services,
transfers under U.S. military sales contracts, and royalties and license fees.
Services imports for September were revised up $0.9 billion to $31.4 billion.
The revision was mostly accounted for by an upward revision in other private services.
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