United States Trade United States\'

United States Trade

United States' international trade in goods and services for the month of October 2007 reported a $57.8 billion deficit. The deficit emerged due to the $141.7 billion exports and $199.5 billion imports. It seems that the U.S. trade is on an ascending direction, given the fact that October's deficit is $0.7 billion more than the $57.1 billion deficit in September. Compared to September, U.S. October exports were $1.3 billion more, while the imports were $2.0 billion more (U.S. Census Bureau, 2007).

Another characteristic for United States' trade in the month of October was the fact that the goods deficit increased $0.9 billion to September to $66.8 billion. Also, the services surplus reached $8.9 billion after a $0.2 billion increase. In October 2007, exports of goods reached $101.1 billion, reporting a $0.7 billion increase compared to September. Imports of goods reached $167.8 billion, reporting a $1.6 billion increase compared to the previous month. Trade regarding the services sector also increased in October: exports reached $40.6 billion, benefiting from a $0.5 billion increase, while imports reached $31.7 billion after a $0.3 billion increase compared to the previous month.

Although latest statistics show a slightly descending direction for U.S. trade, the country's goods and services deficit for October 2007 was $0.3 billion lower than the value registered in October 2006. Compared to this period, exports increased up to 13.7% ($17.1 billion), while imports increased up to 9.2% ($16.7 billion) in October 2007.

Regarding United States' trade of goods, statistics show increases in the exports of capital goods of $1.3 billion and in the exports of other goods of $0.7 billion in October compared to September. However, other goods categories reported decreases, like: foods, feeds and beverages (decrease was $0.5 billion), consumer goods (decrease was $0.4 billion), and industrial supplies and materials (decrease was $0.2 billion). Exports in categories like automotive parts, vehicle, and engine remained constant.

October imports of goods increased in the following categories: industrial supplies and materials with $1.9 billion, consumer goods with $0.4 billion, and automotive parts, vehicle, and engine with $0.5 billion. Imports of capital goods decreased with $0.5 billion, while imports of foods, feeds, and beverages decreased with $0.1 billion compared to the previous month. Other goods did not show any modification regarding imports.

Exports of services also increased October compared to September. The increase was of $0.5 billion. The most significant increases were reported in other private services (including business, professional, and technical services, insurance services, and financial services), travel, and other transportation. Compared to the same period last year, exports of services increased $4.1 billion.

Imports of services also increased $0.3 billion compared to the previous month. The most significant increases were reported in other private services. Compared to the same period last year, imports of services increased $2.6 billion.