Bailout

Trade Deficit Declines in October

By Anonymous

The ... total October exports of $136.8 billion and imports of $169.8 billion resulted in a goods and services deficit of $32.9 billion, down from $35.7 billion in September, revised. October exports were $3.5 billion more than September exports of $133.4 billion. October imports were $0.7 billion more than September imports of $169.0billion.

The first graph shows the monthly U.S. exports and imports in dollars through October 2009.

Imports and exports increased in October. On a year-over-year basis, exports are off 9% and imports are off 19%.

The second graph shows the U.S. trade deficit, with and without petroleum, through October.

The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Import oil prices decreased slightly to $67.39 in October - still up more than 50% from the prices in February (at $39.22) - and the decline followed seven consecutive monthly increases in the price of oil.

Oil import volumes dropped sharply in October, and the decline in oil imports was the major contributor to decrease in the trade deficit.

Full post as published by Calculated Risk on December 10, 2009 (boomark / email).