The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $73.3 billion in September, up $7.6 billion from $65.7 billion in August, revised.
Exports, Imports, and Balance
September exports were $258.0 billion, $2.8 billion less than August exports. September imports were $331.3 billion, $4.8 billion more than August imports.
The September increase in the goods and services deficit reflected an increase in the goods deficit of $6.6 billion to $92.7 billion and a decrease in the services surplus of $1.0 billion to $19.5 billion.
Year-to-date, the goods and services deficit increased $125.6 billion, or 20.2%, from the same period in 2021. Exports increased $378.1 billion or 20.2%. Imports increased $503.6 billion or 20.2%.
Three-Month Moving Averages
The average goods and services deficit decreased $2.5 billion to $69.8 billion for the three months ending in September.
- Average exports decreased $0.3 billion to $259.5 billion in September.
- Average imports decreased $2.8 billion to $329.3 billion in September.
Year-over-year, the average goods and services deficit decreased $3.2 billion from the three months ending in September 2021.
- Average exports increased $45.6 billion from September 2021.
- Average imports increased $42.4 billion from September 2021.
Exports
Exports of goods decreased $3.7 billion to $180.2 billion in September.
Exports of goods on a Census basis decreased $3.4 billion.
- Industrial supplies and materials decreased $2.3 billion.
- Crude oil decreased $1.0 billion.
- Nonmonetary gold decreased $0.8 billion.
- Foods, feeds, and beverages decreased $2.1 billion.
- Soybeans decreased $1.7 billion.
- Capital goods increased $1.2 billion.
- Telecommunications equipment increased $0.6 billion.
- Semiconductors increased $0.4 billion.
Net balance of payments adjustments decreased $0.3 billion.
Exports of services increased $0.9 billion to $77.8 billion in September.
Travel increased $0.6 billion.
- Transport increased $0.1 billion.
- Financial services increased $0.1 billion.
Imports
Imports of goods increased $2.9 billion to $272.9 billion in September.
Imports of goods on a Census basis increased $2.8 billion.
- Capital goods increased $3.3 billion.
- Semiconductors increased $1.1 billion.
- Civilian aircraft increased $0.8 billion.
- Telecommunications equipment increased $0.7 billion.
- Consumer goods increased $1.1 billion.
- Cell phones and other household goods increased $1.4 billion.
- Pharmaceutical preparations increased $1.4 billion.
- Industrial supplies and materials decreased $2.0 billion.
- Fuel oil decreased $0.8 billion.
- Crude oil decreased $0.5 billion.
- Other petroleum products decreased $0.5 billion.
Net balance of payments adjustments increased $0.1 billion.
Imports of services increased $1.9 billion to $58.4 billion in September.
- Travel increased $1.6 billion.
- Transport increased $0.3 billion.
Real Goods in 2012 Dollars – Census Basis
The real goods deficit increased $6.7 billion to $103.8 billion in September.
- Real exports of goods decreased $1.3 billion to $162.9 billion.
- Real imports of goods increased $5.4 billion to $266.8 billion.
Revisions
Revisions to August Exports
- Exports of goods were revised up $1.4 billion.
- Exports of services were revised up $0.5 billion.
Revisions to August Imports
- Imports of goods were revised down $0.1 billion.
- Imports of services were revised up $0.3 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis
The September figures show surpluses, in billions of dollars, with South and Central America ($6.9), Netherlands ($4.3), Singapore ($2.5), Hong Kong ($1.8), Australia ($1.6), United Kingdom ($1.3), Brazil ($1.2), and Belgium ($0.3). Deficits were recorded, in billions of dollars, with China ($32.1), European Union ($16.0), Mexico ($11.9), Vietnam ($10.1), Germany ($7.1), Ireland ($5.5), Canada ($5.3), Japan ($5.2), South Korea ($4.2), Taiwan ($3.8), Italy ($3.6), Malaysia ($3.4), India ($2.5), Switzerland ($1.9), France ($0.8), Saudi Arabia ($0.8), and Israel ($0.5).
- The deficit with the European Union increased $2.5 billion to $16.0 billion in September. Exports decreased $0.3 billion to $29.9 billion and imports increased $2.2 billion to $45.9 billion.
- The deficit with Mexico increased $2.1 billion to $11.9 billion in September. Exports decreased $1.4 billion to $27.6 billion and imports increased $0.7 billion to $39.6 billion.
- The deficit with China decreased $1.4 billion to $32.1 billion in September. Exports decreased $0.9 billion to $12.2 billion and imports decreased $2.3 billion to $44.3 billion.
