The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $40.8 billion in September, down $7.2 billion from $48.0 billion in August, revised. September exports were $187.9 billion, $3.0 billion more than August exports. September imports were $228.7 billion, $4.2 billion less than August imports.
The September decrease in the goods and services deficit reflected a decrease in the goods deficit of $7.3 billion to $60.3 billion and a decrease in the services surplus of $0.1 billion to $19.5 billion.
Year-to-date, the goods and services deficit increased $14.9 billion, or 3.9 percent, from the same period in 2014. Exports decreased $66.3 billion or 3.8 percent. Imports decreased $51.3 billion or 2.4 percent.
Exports (Exhibits 3, 6, and 7)
Exports of goods increased $2.9 billion to $127.3 billion in September.
Exports of goods on a Census basis increased $2.8 billion.
- Consumer goods increased $1.3 billion.
- Artwork, antiques, and stamps increased $0.5 billion.
- Jewelry increased $0.3 billion.
- Capital goods increased $0.9 billion.
Net balance of payments adjustments increased $0.1 billion.
Exports of services increased $0.1 billion to $60.6 billion in September.
- Travel (for all purposes including education) increased $0.1 billion.
- Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $0.1 billion.
Imports (Exhibits 4, 6, and 8)
Imports of goods decreased $4.4 billion to $187.6 billion in September.
Imports of goods on a Census basis decreased $4.3 billion.
- Industrial supplies and materials decreased $1.6 billion.
- Crude oil decreased $1.3 billion.
- Capital goods decreased $1.0 billion.
- Civilian aircraft decreased $0.6 billion.
Net balance of payments adjustments decreased less than $0.1 billion.
Imports of services increased $0.1 billion to $41.1 billion in September.
- Travel (for all purposes including education) increased $0.1 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19)
The September figures show surpluses, in billions of dollars, with South and Central America ($3.6), OPEC ($1.7), Brazil ($0.2), and Saudi Arabia ($0.2). Deficits were recorded, in billions of dollars, with China ($30.7), European Union ($13.1), Germany ($5.7), Japan ($5.5), Mexico ($5.4), Italy ($2.3), India ($2.0), South Korea ($1.8), Canada ($1.7), France ($1.3), and United Kingdom ($1.2).
- The deficit with China decreased $2.2 billion to $30.7 billion in September. Exports increased $0.4 billion to $10.2 billion and imports decreased $1.8 billion to $41.0 billion.
- The deficit with the European Union decreased $1.4 billion to $13.1 billion in September. Exports increased $1.1 billion to $22.7 billion and imports decreased $0.3 billion to $35.9 billion.
NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.