Economic Buzz: US Trade Deficit Widens To $78.2 Billion In October

7 Dec 2022 , 08:36 AM

Reflecting a decrease in the value of exports and an increase in the value of imports, the Commerce Department released a report showing the U.S. trade deficit widened in the month of October. The report said the trade deficit widened to $78.2 billion in October from a revised $74.1 billion in September. The wider trade deficit came as the value of exports slid by 0.7 percent to $256.6 billion, while the value of imports climbed by 0.6 percent to $334.8 billion. The Commerce Department also said the goods deficit widened to $99.6 billion in October from $93.5 billion in September, while the services surplus increased to $21.4 billion from $19.4 billion.Powered by Commodity Insights