Surging Exports Raise Inflation Risks

Cargo ships filled with containers dock at the Port of Los Angeles on September 28, 2021, in Los Angeles, California. (Frederic J. Brown/AFP via Getty Images)
Frederic J. Brown/AFP via Getty Images

Exports of goods and services from the United States surged in October, helping bring the trade deficit down sharply from last months’ historic high.

The jumped by $16.8 billion compared with September, an 8.1 percent increase. At the same time, imports rose by just under one percent.

 

The October decrease in the goods and services deficit reflected a decrease in the goods deficit of $14.0 billion to $83.9 billion and an increase in the services surplus of $0.3 billion to $16.8 billion.

Year-to-date, the goods and services deficit increased $161.7 billion, or 29.7 percent, from the same period in 2020. Exports increased $315.1 billion or 17.9 percent. Imports increased $476.8 billion or 20.7 percent.

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