The U.S. trade gap widened in October on the shrinking trade.
In October U.S. trade gap has climbed by 2.7 % to a rate at $55.5 billion, reported by the Commerce Department. The increase in trade deficit it's not only bad news in this report but declining imports as well, as shrinking exports of U.S. goods and services indicate slowing global demand, as falling oil prices were the main reason behind the lower imports, leaving more disposable income to spend on other goods and services, economists think.

International Trade (Picture Autor: Maurice Marcellin) licence Creative Commons

With energy prices falling dramatically since its peak, economists expect the value of petroleum imports and the trade deficit to fall significantly in the subsequent months.

Imports from China, meanwhile, climbed to $52.2 billion in October from $50 billion in September. The trade deficit with the rising Asian giant increased $2.86 billion to $-43.1 billion in October. Country data are not seasonally adjusted.

Lawmakers and some business executives say China keeps its currency artifically low to boosts its exports.
• Imports of Crude Oil

Industrial Supplies		Consumer Goods		Military sales		Private Services
-0.53%	0.58%	3.62%	1.04%	-4.19%	-5.33%	-0.64%	-0.92%
*Imports*	Exports	Imports	Exports	Imports	Exports	Imports	Exports

In October imports declined by -0.02 %, the largest decrease came from imports of Capital goods, except automotive and U.S. Government Misc. Services. U.S. Imports of Advanced Materials also declined, by -19.09 % to $0.20 billions. Bucking the overall trend, imports of miscellaneous other goods, Royalties and License Fees, grew. Imports of Weapons increased also, up 12.90 % to $0.07 billions.

Economists had expected cheaper imported oil to help push down the deficit, but the volume of crude imports swamped the decline in the price. Imports of services have declined by -1.16 %, but they accounted only for 17.6 %, of total imports in October. Purcheses of foreign made goods, grew by 0.23 %. • U.S. Exports by Major Category

Imports from europe increased, as purchases of goods from Switzerland grew the most, up 66.07 %, but imports from Russia fell. Despite the decline in the price of oil, imports from Mexico and Canada grew in October. Canada and Mexico are among the largest exporters of petroleum to the U.S. Pacific Rim Region has seen increasing demand from the U.S., where imports from Japan grew the most, while the demand for goods from Hong Kong fell. From Oct. 2017, U.S. trade gap jumped by 13.9 %, due to 8.95 % increase in imports. In October exports sunk by -0.71 %, the largest decline came from exports of Foods, feeds, and beverages and Transfers Under U.S. Military Sales Contracts. Exports of Nuclear Technology also fell -9.23 % to $0.06 billions. Bucking the overall trend, exports of miscellaneous other goods and , surged. Exports of Weapons increased also, up 114.85 % to $0.43 billions. Economists are concerned that slowing demand from Europe may dampen U.S. export growth. The decline of exports was broad based, services fell -1.6 % and exports of goods declined by -0.27 %. Sales of U.S. made goods, improved in the Pacific Rim Region, where exports to Japan grew the most and despite the decrease in demand for U.S. made goods, from Hong Kong. Demand for U.S. made goods increased in Brazil, Colombia and overall South and Central America. Exports to europe fell, where sales of U.S. made goods to Switzerland fell the most, but trade with Norway grew by 75.26 %. • U.S. Imports by Major Countries
Exports to Selected Geographical Region

Technology Group Exports	Technology Group Imports	Technology Group Trade Balance
Total Technology Group exports increased by $815 millions or 2.60 % to $32,210 millions from Sep. 2018 , despitea decrease in exports of Aerospace goods by -5.25 % to $12,257 millions from Sep. 2018. Exports of Information and Communication goods rose by $815 millions or 11.61 % to $8,682 millions.	Total Technology Group imports deacreased by $726 millions or -1.91 % to $37,240 millions from Sep. 2018 , despite a decrease in imports of Electronics goods by -5.04 % to $3,163 millions from Sep. 2018. Imports of Information and Communication goods rose by $726 millions or 4.14 % to $20,951 millions. • Imports by Technology Group	Total Technology Group trade deficit rose by $1,779 millions or 14.06 % to $14,434 millions from deficit of $12,655 millions Sep. 2018. Information and Communications trade deficit fell by $457 millions or 2.62 % to $16,972 millions from deficit of $17,429 millions Sep. 2018. • Trade Balance by Technology Group

Technology Group Exports

Total Technology Group exports increased by $815 millions or 2.60 % to $32,210 millions from Sep. 2018 , despitea decrease in exports of Aerospace goods by -5.25 % to $12,257 millions from Sep. 2018. Exports of Information and Communication goods rose by $815 millions or 11.61 % to $8,682 millions.

Technology Group Imports

Total Technology Group imports deacreased by $726 millions or -1.91 % to $37,240 millions from Sep. 2018 , despite a decrease in imports of Electronics goods by -5.04 % to $3,163 millions from Sep. 2018. Imports of Information and Communication goods rose by $726 millions or 4.14 % to $20,951 millions.

• Imports by Technology Group

Technology Group Trade Balance

U.S. International Trade in Goods & Services

(In millions $)

U.S. International Trade in Goods & Services (In millions $)	Oct. 2018	Sep. 2018	Aug. 2018	July 2018	June 2018	May 2018
Total Trade Balance	-55,488	-54,019	-53,309	-50,082	-46,348	-43,053
Trade Balance of Goods	-78,112	-77,226	-76,634	-73,144	-68,813	-65,787
Trade Balance of Services	22,624	23,207	23,326	23,062	22,465	22,735
Total Exports	211,046	212,565	209,445	211,077	213,809	215,328
Exports of Goods	141,472	141,858	138,990	140,791	143,208	144,888
Exports of Services	69,573	70,706	70,455	70,286	70,602	70,440
Total Imports	266,534	266,584	262,754	261,159	260,158	258,381
Imports of Goods	219,585	219,084	215,624	213,935	212,021	210,675
Imports of Services	46,950	47,500	47,129	47,224	48,137	47,706

U.S. Trade Balance by Selected Countries and Areas

( In millions $)

U.S. Trade Balance by Selected Countries and Areas ( In millions $)	Oct. 2018	Sep. 2018	Aug. 2018	July 2018	June 2018	May 2018
Total Goods	-90,513	-73,732	-83,995	-84,466	-68,479	-73,099
North America	-9,110	-9,525	-11,297	-8,690	-9,461	-8,215
Canada	-1,943	-1,810	-2,605	-3,149	-2,041	-1,501
Mexico	-7,167	-7,714	-8,692	-5,541	-7,419	-6,715
Europe	-21,438	-11,924	-18,023	-21,035	-15,048	-16,276
European Union	-17,615	-10,646	-15,708	-17,589	-11,724	-13,387
Austria	-1,042	-748	-997	-853	-837	-630
Belgium	1,060	1,142	1,310	872	1,350	1,135
Czech Republic	-181	-84	-197	-198	-172	-78
Finland	-469	-433	-402	-388	-453	-431
France	-1,673	-982	-1,115	-1,843	-591	-1,278
Germany	-6,207	-4,802	-5,914	-6,612	-5,339	-5,717
Hungary	-240	-278	-261	-327	-288	-300
Ireland	-4,471	-3,516	-4,323	-4,189	-4,033	-3,281
Italy	-2,951	-1,704	-2,965	-3,110	-2,283	-2,829
Netherlands	1,696	2,162	1,911	2,028	2,533	2,177
Poland	-326	-328	-323	-326	-14	-30
Spain	-213	197	-440	-636	-452	-369
Sweden	-538	-415	-368	-621	-643	-802
United Kingdom	-564	581	-122	62	754	651
Other E.U.	-1,496	-1,438	-1,501	-1,449	-1,256	-1,605
Norway	-134	-117	232	-270	-195	72
Russia	-1,018	-1,692	-1,335	-1,398	-1,333	-1,404
Switzerland	-2,558	118	-1,231	-1,703	-1,677	-1,659
Other Europe	-113	413	19	-75	-118	101
Euro Area	-14,993	-9,507	-13,588	-15,555	-10,749	-12,035
Pacific Rim Countries	-51,980	-45,503	-46,851	-45,528	-40,138	-41,795
Australia	1,221	1,091	1,294	1,135	1,555	1,276
China	-43,102	-40,243	-38,570	-36,834	-33,484	-33,187
Japan	-6,166	-3,927	-6,011	-5,460	-5,308	-5,492
Malaysia	-2,144	-2,273	-2,403	-2,051	-2,086	-2,588
Philippines	-439	-312	-265	-334	-262	-271
Newly Industrialized Countries (NICS)	-9,287	-8,254	-9,140	-8,679	-5,813	-9,191
Hong Kong	2,462	2,942	2,283	2,002	2,891	2,274
Korea	-1,882	-1,454	-1,846	-1,527	-1,208	-1,803
Singapore	501	112	560	-121	22	777
Taiwan	-1,392	-969	-1,026	-1,232	-1,388	-1,536
Other Pacific Rim	86	477	12	-86	40	-42
South/Central America	4,183	3,220	3,093	2,703	3,558	3,668
Argentina	377	433	480	510	444	504
Brazil	869	724	366	577	718	892
Chile	672	387	524	388	308	514
Colombia	472	290	90	93	255	-92
Other South/Central America	1,793	1,386	1,634	1,135	1,832	1,850
OPEC	-2,451	-1,984	-1,366	-3,464	-1,804	-701
Indonesia	-1,126	-948	-880	-1,021	-909	-1,203
Nigeria	-354	7	-17	5	-305	-341
Saudi Arabia	-1,474	-1,347	-1,258	-1,065	-906	-167
Venezuela	-887	-966	-792	-692	-713	-463
Other OPEC	264	323	702	-1,712	120	270
Africa	-989	-294	-745	-1,080	-671	-923
Algeria	-297	-253	-405	-446	-107	-232
Egypt	136	203	97	146	215	338
South Africa	-254	-135	-208	-189	-224	-261
Other Africa	-573	-109	-229	-590	-555	-767
Other Countries	-9,287	-8,254	-9,140	-8,679	-5,813	-9,191
India	-2,445	-1,535	-1,919	-2,008	-1,122	-2,452
Thailand	-1,538	-1,694	-1,759	-1,792	-1,489	-1,743
Other	-5,305	-5,025	-5,463	-4,879	-3,201	-4,997

U.S. Imports by Major Category

( In millions $)

Imports by Major Category ( In millions $)	Oct. 2018	Sep. 2018	Aug. 2018	July 2018	June 2018	May 2018
Total	266,534	266,584	262,754	261,159	260,158	258,381
Total Services	46,950	47,500	47,500	47,224	48,137	47,706
Travel	680	670	670	662	654	665
Passenger Fares	9,297	9,209	9,209	8,847	8,823	8,834
Other Transportation	12,299	12,069	12,069	11,996	11,896	11,720
Royalties and License Fees	3,028	2,960	2,960	3,056	3,920	3,941
Other Private Services	2,622	2,639	2,639	2,616	2,684	2,700
Transfers Under U.S. Military Sales Contracts	4,386	4,578	4,578	4,814	5,265	4,988
U.S. Government Misc. Services	3,294	3,469	3,469	3,467	3,566	3,557
Total Goods	219,585	219,084	215,624	213,935	212,021	210,675
Foods, feeds, and beverages	12,299	12,143	12,305	12,440	12,175	12,378
Industrial supplies and materials	49,207	49,471	49,655	49,289	48,751	47,853
Capital goods, except automotive	56,907	60,063	57,683	58,159	57,494	58,980
Automotive vehicles, parts, and engines	31,839	31,107	31,711	30,710	30,211	29,728
Consumer goods	57,440	55,435	53,471	52,618	53,390	51,423
Other goods	10,147	9,334	9,050	9,030	8,380	8,560

Exports by Technology Group

( In millions $)

Exports by Technology Group ( In millions $)	Oct. 2018	Sep. 2018	Aug. 2018	July 2018	June 2018	May 2018
Total Technology Group	32,210	31,395	29,797	28,167	32,891	32,215
Advanced Materials	263	243	254	261	260	252
Aerospace	12,257	12,936	11,222	9,863	13,196	12,728
Biotechnology	1,896	1,916	1,630	1,513	1,902	2,175
Electronics	3,990	3,748	3,966	3,660	3,881	3,872
Flexible Manufacturing	1,595	1,543	1,484	1,730	1,682	1,734
Information and Communications	8,682	7,779	7,912	8,034	8,246	7,531
Life Science	2,641	2,562	2,597	2,401	2,788	2,471
Nuclear Technology	59	65	50	52	89	50
Opto-Electronics	396	401	476	450	531	462
Weapons	434	202	207	202	317	938

Annual Report on U.S. International Trade in Goods & Services

(In millions $)

U.S. International Trade in Goods & Services (In millions $)	2017	2016	2015	2014	2013	2012
Total Trade Balance	-566,031	-504,793	-531,503	-471,532	-471,532	-540,362
Trade Balance of Goods	-810,023	-752,507	-758,934	-703,159	-703,159	-735,702
Trade Balance of Services	243,993	247,714	227,431	231,627	231,627	195,341
Total Exports	2,329,311	2,208,072	2,230,317	2,272,320	2,272,320	2,195,925
Exports of Goods	1,551,434	1,455,704	1,513,888	1,590,350	1,590,350	1,563,578
Exports of Services	777,877	752,368	716,429	681,970	681,970	632,346
Total Imports	2,895,342	2,712,866	2,761,820	2,743,851	2,743,851	2,736,286
Imports of Goods	2,361,458	2,208,211	2,272,821	2,293,508	2,293,508	2,299,281
Imports of Services	533,884	504,654	488,999	450,343	450,343	437,005

• Source U.S. Department of Commerce, BEA.gov
Picture Autor: (Maurice Marcellin) licence Creative Commons.

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