The census bureau Advance International Trade reports shows the trade deficit widened by 9.6% from $56.5 billion in September to $62.0 billion in October.
Advance International Trade in Goods
The international trade deficit was $62.0 billion in October, up $5.5 billion from $56.5 billion in September. Exports of goods for October were $122.1 billion, $3.4 billion less than September exports. Imports of goods for October were $184.1 billion, $2.1 billion more than September imports.
Export Import Details
- Other than the relatively minor category of “other goods”, exports were down across the board from September.
- From October a year ago, exports were down or flat except for “other goods” and the category of Food, Feeds, and Beverages.
- This month, exports of Food, Feeds, and Beverages declined 11.8%.
The strengthening US dollar is going to increasingly come into play, dampening exports. The huge rise in grain exports is also expected to stall.
Mike “Mish” Shedlock
“The strengthening US dollar is going to increasingly come into play, dampening exports.”
Strengthening $US double whammy for US corporations. Overseas earnings will face negative fx treatment for earning purposes.
Capex will take (further) hit.
Come on Tony, drink the Kool Aid. It’s all coming up roses.
Don’t forget! The USA benefits from its imports. It receives goods and services and in return just writes up numbers in the trading accounts at the Fed.