December 07, 2020
October exports amounted to $182.0 billion, which was more than September exports by $4.0 billion, whereas, October imports amounted to $245.1 billion which was $5.0 billion more than September imports.
BEA also noted that, “the October increase in the goods and services deficit reflected an increase in the goods deficit of $0.6 billion to $81.4 billion and a decrease in the services surplus of $0.4 billion to $18.3 billion.”
Year to date compared with that of 2019, there was a 9.5% or $46.6 billion increase in the goods and services deficit. Moreover, exports fell $345.9 billion or 16.4%. Imports also fell $299.4 billion or 11.5%.
Three-Month Moving Averages
For the three months ended in October, the average goods and services deficit rose $0.6 billion to $63.4 billion. This was due to a $4.0 billion increase in average exports to $178.0 billion in October and a $4.6 billion increase in average imports to $241.3 billion in October.
Exports of goods rose $3.7 billion to $126.3 billion in October. These consists of capital goods and Industrial supplies and materials which increased by $1.5 billion and $1.6 billion, respectively. Additionally, export of services rose by $0.3 billion to $55.7 billion in October. Of the services exported, travel increased $0.2 billion and transport climbed $0.2 billion.
Imports of goods rose $4.3 billion to $207.8 billion in October. As for imports of goods; consumer goods, capital goods, industrial supplies and materials and automotive vehicles increased $1.4 billion, $1.4 billion, $1.3 billion and $1.0 billion, respectively. Besides, imports of services increased by $0.7 billion to $37.4 billion in October. Of this, transport increased $0.3 billion and travel rose $0.3 billion.
Disclaimer
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.