By: Jason Jindrich
The October trade deficit in goods and services decreased by $0.2 billion from September, to $43.4 billion. The decrease in the deficit reflects a $2.3 billion increase in exports to $197.5 billion. This increase in exports was greater than the $2.1 billion increase in imports to $241.0 billion. Both exports and imports of capital goods reached a new record this month, with exports at $47.7 billion, and imports at $51.0 billion. Similarly, October marked records in both exports ($22.3 billion) and imports ($27.4 billion) with Mexico.
October was also a record month for imports from China. This leads to our Graph of the Month, featuring imports of cellphones. Imports of cellphones into the United States have trended upward since 1997, with China an important source.