US trade deficit jumps 5.1% to $64.3B in October

By Ovunc Kutlu

ISTANBUL (AA) - The US trade deficit rose $3.1 billion, or 5.1%, to reach $64.3 billion in October, according to data released Wednesday by the Commerce Department's Census Bureau.

The expectation was to show a deficit of $64.2 billion. The trade deficit in September was revised to $61.2 billion from $61.5 billion, according to the figures.

Exports in October were $258.8 billion, $2.6 billion less than September exports, while imports were $323 billion -- just $0.5 billion more than the month before.

"The October increase in the goods and services deficit reflected an increase in the goods deficit of $3.5 billion to $89.8 billion and an increase in the services surplus of $0.4 billion to $25.5 billion," the Census Bureau said in a statement.

"Year-to-date, the goods and services deficit decreased $161.4 billion, or 19.8 percent, from the same period in 2022. Exports increased $28.0 billion or 1.1 percent. Imports decreased $133.4 billion or 4.0 percent," it added.