The U.S. Commerce Department on Tuesday reported that the country’s exports in goods and services for October were down 3.6 percent from the previous month to $180.5 billion.
Similarly, U.S. imports during that month fell 2.1 percent to $222.8 billion.
As a result, the October international trade deficit increased to $42.2 billion from September, the department said. Year-over-year exports in the month of October 2012 also outperformed October of the prior year with a $1.8 billion increase in exports and a $3.5 billion improvement in the total trade deficit.
In addition, U.S. merchandise exports to China, Mexico and Brazil were at record levels in October, and the merchandise trade surplus with South and Central America was the highest on record.
“Despite global economic headwinds, October exports of $180.5 billion were still among the highest monthly export levels on record, and we continue to be on track to exceed last year’s record export total of $2.1 trillion,” said Acting U.S. Commerce Secretary Rebecca Blank in a statement.
U.S. exports down 3.6% in October
