by Calculated risk on 03/11/2022 08:46:00 AM
From the Ministry of Commerce reported:
The US Census Bureau and the US Bureau of Economic Analysis announced today that there is a deficit in goods and services $73.3 billion in Septemberup $7.6 billion from a revised $65.7 billion in August.
September exports were $258.0 billion, down $2.8 billion from August exports. September’s imports amounted to $331.3 billion, $4.8 billion more than August’s imports.
Click on the chart for a larger picture.
Exports fell and imports increased in September.
Exports are up 22% year over year; Imports are up 14% year over year.
Both imports and exports fell sharply due to COVID-19 and have now recovered.
The second chart shows the US trade deficit with and without oil.
The blue line is the total deficit, the black line is the petroleum deficit, and the red line is the petroleum products trade deficit.
Note that net exports of petroleum products are somewhat positive.
The trade deficit with China widened to $37.3 billion in September from $36.4 billion a year earlier.
The trade deficit was slightly higher than expectations.