Trade Deficit Narrowed by $10 Billion in October

Washington, DC, December 5, 2024- The goods and services deficit was $73.8 billion in October, down $10.0 billion from $83.8 billion in September, revised, according to the Bureau of Economic Analysis.

October exports were $265.7 billion, $4.3 billion less than September exports. 

October imports were $339.6 billion, $14.3 billion less than September imports.

The October decrease in the goods and services deficit reflected a decrease in the goods deficit of $10.4 billion to $98.7 billion and a decrease in the services surplus of $0.4 billion to $24.8 billion.

Year-to-date, the goods and services deficit increased $80.7 billion, or 12.3%, from the same period in 2023. Exports increased $94.0 billion or 3.7%. Imports increased $174.7 billion or 5.4%.