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Goods and Services Deficit Up in October

Eric Smith
posted on December 7, 2020

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $63.1 billion in October, up $1 billion from $62.1 billion in September, revised.

October exports were $182 billion, $4 billion more than September exports. October imports were $245.1 billion, $5 billion more than September imports.

The October increase in the goods and services deficit reflected an increase in the goods deficit of $0.6 billion to $81.4 billion and a decrease in the services surplus of $0.4 billion to $18.3 billion.

Year-to-date, the goods and services deficit increased $46.6 billion, or 9.5%, from the same period in 2019. Exports decreased $345.9 billion or 16.4%. Imports decreased $299.4 billion or 11.5%.

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