By Shannon O’Brien and John Sperry
In October, the Nation’s international trade deficit in goods and services decreased to $40.6 billion as exports increased more than imports. Exports increased to a record high $192.7 billion in October led by an increase in industrial supplies and materials ($1.5 billion). Imports grew to $233.3 billion in part due to an increase in industrial supplies and materials ($0.8 billion). This month saw a number of records, including exports of goods ($135.3 billion), exports of petroleum ($12.5 billion), exports to Canada ($26.8 billion), and exports to China ($13.1 billion). In addition to these records, October had its highest level of imports with China ($41.9 billion) partially due to video game related imports as discussed below.
Through 2013 year-to-date, we have imported a total of $3.7 billion of video game consoles. In October alone we imported video game consoles and machines totaling $1,099.9 million. China was the leading foreign source of video game consoles in October making up $1,084.5 million of the world total imports to the United States.
During the 2013 holiday season, the gaming community has felt the rise of video game demand. Maybe your quest for shopping began when new video game consoles released in North America last month or maybe you will be surprised when you are unwrapping presents in a few weeks.
You can obtain this data and more by going to USA Trade Online.