Exports, Imports, and Balance
The September increase in the goods and services deficit reflected an increase in the goods deficit of $14.2 billion to $109.0 billion and an increase in the services surplus of $0.6 billion to $24.6 billion.
Year-to-date, the goods and services deficit increased $69.6 billion, or 11.8 percent, from the same period in 2023. Exports increased $84.7 billion or 3.7 percent. Imports increased $154.4 billion or 5.3 percent.
Three-Month Moving Averages
The average goods and services deficit increased $3.8 billion to $78.0 billion for the three months ending in September.
• Average exports increased $0.9 billion to $268.5 billion in September.
• Average imports increased $4.7 billion to $346.6 billion in September.
Year-over-year, the average goods and services deficit increased $15.9 billion from the three months ending in September 2023.
• Average exports increased $10.5 billion from September 2023.
• Average imports increased $26.4 billion from September 2023.
Exports
Exports of goods decreased $3.2 billion to $176.0 billion in September.
Exports of goods on a Census basis decreased $3.5 billion.
• Capital goods decreased $1.9 billion.
◦ Civilian aircraft decreased $1.7 billion.
• Consumer goods decreased $1.4 billion.
◦ Pharmaceutical preparations decreased $2.0 billion.
• Industrial supplies and materials decreased $1.4 billion.
◦ Crude oil decreased $1.3 billion.
◦ Other petroleum products decreased $0.5 billion.
Net balance of payments adjustments increased $0.3 billion.
Exports of services decreased less than $0.1 billion to $91.9 billion in September.
• Maintenance and repair services decreased $0.2 billion.
• Government goods and services increased $0.1 billion.
• Transport increased $0.1 billion.
Imports
Imports of goods increased $10.9 billion to $285.0 billion in September.
Imports of goods on a Census basis increased $11.0 billion.
• Consumer goods increased $4.0 billion.
◦ Pharmaceutical preparations increased $1.9 billion.
• Capital goods increased $2.8 billion.
◦ Computers increased $1.0 billion.
◦ Semiconductors increased $0.8 billion.
• Industrial supplies and materials increased $2.2 billion.
◦ Nonmonetary gold increased $0.7 billion.
◦ Finished metal shapes increased $0.6 billion.
• Automotive vehicles, parts, and engines increased $1.2 billion.
◦ Passenger cars increased $0.9 billion.
Net balance of payments adjustments decreased less than $0.1 billion.
Imports of services decreased $0.6 billion to $67.3 billion in September.
• Charges for the use of intellectual property decreased $0.8 billion.
• Travel decreased $0.2 billion.
• Transport increased $0.3 billion.
Real Goods in 2017 Dollars – Census Basis (exhibit 11)
The real goods deficit increased $11.6 billion, or 13.1 percent, to $100.1 billion in September, compared to a 15.3 percent increase in the nominal deficit.
• Real exports of goods decreased $1.8 billion, or 1.2 percent, to $148.2 billion, compared to a 2.0 percent decrease in nominal exports.
• Real imports of goods increased $9.8 billion, or 4.1 percent, to $248.3 billion, compared to a 4.0 percent increase in nominal imports.
Revisions
Revisions to August exports
• Exports of goods were revised down $0.2 billion.
• Exports of services were revised down $0.4 billion.
Revisions to August imports
• Imports of goods were revised down $0.2 billion.
• Imports of services were revised up less than $0.1 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis
The September figures show surpluses, in billions of dollars, with South and Central America ($3.5), Netherlands ($3.2), Hong Kong ($2.2), United Kingdom ($1.4), Australia ($1.4), Singapore ($1.3), Brazil ($1.1), and Belgium ($0.3). Deficits were recorded, in billions of dollars, with China ($26.9), European Union ($23.8), Mexico ($16.0), Vietnam ($12.2), Ireland ($9.3), Taiwan ($7.0), Germany ($7.0), Canada ($5.7), South Korea ($5.7), Japan ($5.3), India ($3.4), Italy ($3.4), Switzerland ($2.3), Malaysia ($2.1), France ($1.1), Israel ($0.8), and Saudi Arabia ($0.2).
• The deficit with the European Union increased $4.7 billion to $23.8 billion in September. Exports decreased $2.1 billion to $30.6 billion and imports increased $2.6 billion to $54.4 billion.
• The deficit with Vietnam increased $2.5 billion to $12.2 billion in September. Exports increased $0.1 billion to $1.1 billion and imports increased $2.6 billion to $13.3 billion.
• The surplus with the United Kingdom increased $1.1 billion to $1.4 billion in September. Exports increased $0.6 billion to $7.1 billion and imports decreased $0.5 billion to $5.7 billion.
All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release.
