Click to Enlarge.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $84.4 billion in September, up $13.6 billion from $70.8 billion in August (revised). As the economy continues to expand, consumers are buying more raising the deficit. The news comes on Election Day where under new Trump Administration – if it returns – proposed tariffs by Trump will cost consumers billions upon billions of dollars, send the cost of living soaring and hurt the economy overall. Trumpa-nomics 2 the sequel: Tanking the Economy Again.
“September exports were $267.9 billion, $3.2 billion less than August exports. September imports were $352.3 billion, $10.3 billion more than August imports. 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 %, from the same period in 2023. Exports increased $84.7 billion or 3.7 %. Imports increased $154.4 billion or 5.3 %,” the Bureaus said.
Key Data Points September
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.
- Non-monetary 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.
Trade in Goods by Countries and Areas
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)
- 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),
- Saudi Arabia ($0.2).
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
U.S. International Trade Deficit Up in September
Click to Enlarge.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $84.4 billion in September, up $13.6 billion from $70.8 billion in August (revised). As the economy continues to expand, consumers are buying more raising the deficit. The news comes on Election Day where under new Trump Administration – if it returns – proposed tariffs by Trump will cost consumers billions upon billions of dollars, send the cost of living soaring and hurt the economy overall. Trumpa-nomics 2 the sequel: Tanking the Economy Again.
“September exports were $267.9 billion, $3.2 billion less than August exports. September imports were $352.3 billion, $10.3 billion more than August imports. 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 %, from the same period in 2023. Exports increased $84.7 billion or 3.7 %. Imports increased $154.4 billion or 5.3 %,” the Bureaus said.
Key Data Points September
Imports of goods increased $10.9 billion to $285.0 billion in September. Imports of goods on a Census basis increased $11.0 billion.
Trade in Goods by Countries and Areas
The September figures show surpluses, in billions of dollars, with:
Deficits were recorded, in billions of dollars, with:
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.