Trade Deficit increased to $64.3 Billion in October

The Census Bureau and the Bureau of Economic Analysis reported:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today
that the goods and services deficit was $64.3 billion in October, up $3.1 billion from $61.2 billion in
September, revised

October exports were $258.8 billion, $2.6 billion less than September exports. October imports were
$323.0 billion, $0.5 billion more than September imports.

emphasis added

U.S. Trade Exports Imports Click on graph for larger image.

Exports decreased and imports increased in October.

Exports are up 1% year-over-year; imports are down 3% year-over-year.

Both imports and exports decreased sharply due to COVID-19 and then bounced back – and imports had been decreasing and exports moving sideways recently.

The second graph shows the U.S. trade deficit, with and without petroleum.

U.S. Trade Deficit The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Note that net, exports of petroleum products are positive and have been increasing.

The trade deficit with China decreased to $25.5 billion from $28.8 billion a year ago.