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The Goods and Services Deficit Decreased to $52.5 Billion in September 2019

Tue Nov 05 2019
Rachel Butler
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $52.5 billion in September, down $2.6 billion from $55.0 billion in August, revised.

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Exports, Imports, and Balance (Exhibit 1)

September exports were $206.0 billion, $1.8 billion less than August exports. September imports were $258.4 billion, $4.4 billion less than August imports.

The September decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.7 billion to $71.7 billion and a decrease in the services surplus of $0.1 billion to $19.3 billion.

Year-to-date, the goods and services deficit increased $24.8 billion, or 5.4 percent, from the same period in 2018. Exports decreased $7.0 billion or 0.4 percent. Imports increased $17.8 billion or 0.8 percent.

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Exports (Exhibits 3, 6, and 7)

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Exports of goods decreased $1.8 billion to $136.8 billion in September.

Exports of goods on a Census basis decreased $1.9 billion.

  • Foods, feeds, and beverages decreased $1.5 billion.
    • Soybeans decreased $1.0 billion.
  • Automotive vehicles, parts, and engines decreased $1.0 billion.
    • Passenger cars decreased $0.3 billion.
    • Trucks, buses, and special purpose vehicles decreased $0.3 billion.
  • Capital goods increased $0.8 billion.
    • Civilian aircraft increased $0.7 billion.
    • Civilian aircraft engines increased $0.6 billion.

Exports of services decreased $0.1 billion to $69.2 billion in September.

  • Travel decreased $0.1 billion.

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Imports (Exhibits 4, 6, and 8)

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Imports of goods decreased $4.5 billion to $208.6 billion in September.

Imports of goods on a Census basis decreased $4.3 billion.

  • Consumer goods decreased $2.5 billion.
    • Cell phones and other household goods decreased $0.8 billion.
    • Toys, games, and sporting goods decreased $0.6 billion.
    • Artwork, antiques, stamps, and other collectibles decreased $0.4 billion.
  • Capital goods decreased $1.1 billion.
    • Semiconductors decreased $0.6 billion.
  • Automotive vehicles, parts, and engines decreased $1.1 billion.
    • Trucks, buses, and special purpose vehicles decreased $0.4 billion.
    • Automotive parts and accessories decreased $0.3 billion.
    • Passenger cars decreased $0.3 billion.

Imports of services increased $0.1 billion to $49.9 billion in September, reflecting small (less than $50 million) changes in all major service categories.

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Goods by Selected Countries and Areas: Census Basis (Exhibit 19)

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The September figures show surpluses, in billions of dollars, with South and Central America ($5.0), Hong Kong ($2.1), Brazil ($1.0), OPEC ($1.0), Singapore ($0.9), United Kingdom ($0.7), and Saudi Arabia ($0.3). Deficits were recorded, in billions of dollars, with China ($28.0), European Union ($15.7), Mexico ($9.1), Japan ($5.9), Germany ($5.0), Italy ($3.0), Canada ($2.5), Taiwan ($2.1), India ($2.0), France ($1.7), and South Korea ($1.2).

  • The deficit with Germany decreased $1.9 billion to $5.0 billion in September. Exports increased $0.7 billion to $5.6 billion and imports decreased $1.2 billion to $10.7 billion.
  • The deficit with China decreased $0.9 billion to $28.0 billion in September. Exports decreased $1.0 billion to $9.0 billion and imports decreased $1.9 billion to $37.0 billion.
  • The deficit with Canada increased $0.9 billion to $2.5 billion in September. Exports decreased $0.3 billion to $24.5 billion and imports increased $0.6 billion to $27.0 billion.

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