US Trade Deficit Falls to $74 Billion in October

Total deficit so far this year is up by more than 12 percent compared with 2023.

Delays in the transfer of cargo continue in Southern California as vessels line the horizon waiting offload containers into the ports of Los Angeles and Long Beach on Oct. 27, 2021. John Fredricks/The Epoch Times

The United States’ trade deficit dipped in October from the previous month, with imports and exports falling more than usual, according to recent government data.

The trade deficit—the amount by which imports exceed exports—came in at $73.8 billion for October, the U.S. Bureau of Economic Analysis said in a Dec. 5 statement. This was 11.9 percent lower than in September. Imports registered a 4 percent decline compared with the 1.6 percent drop in exports.