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The U.S. trade deficit widened by $1.9 billion in October, reaching $42.2 billion. The trade deficit has tracked in a narrow range, from $40 to $43 billion, since June. Both exports and imports fell in October, with the decline in exports outpacing the fall in imports. It is not surprising that both imports and exports fell in October, as Hurricane Sandy shut down many ports in the Northeast.



Exports fell 3.6% in October, reaching $180.5 billion, their lowest level since February. Imports fell in February as well, but by a more modest 2.1%, reaching $222.8 billion.

The real good’s deficit, which has a direct impact on GDP, shrank slightly in October to $46.2 billion. The European crisis has widened the U.S trade gap, as Europeans import fewer goods due to slowing economic activity.

Read the Census report.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the Trade Deficit fell in May to $48.7 billion, down from $50.6 billion in April.



Total May exports were $183.1 billion and imports were $231.8 billion. May exports were $0.4 billion more than April exports of $182.7 billion. May imports were $1.6 billion less than April imports of $233.3 billion. Cheaper oil from abroad helped to narrow the trade deficit.

Read the release.