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.