¶ … U.S. trade data from the U.S. Census Bureau.

In the latest month, did the trade balance in goods and services improve (that is, yield a smaller deficit or larger surplus) or deteriorate?

The trade balance in goods and services for October 2007 deteriorated compared to September 2007. The deficit increased from $57.1 billion in September 2007 to $57.8 billion in October 2008 because imports increased more than exports. Exports increased to $141.7 billion in October from $140.4 billion in September while imports increased to $199.5 billion in October from $197.5 billion in September.

What was the relative trade strength of the United States compared to the rest of the world in goods or in services?

The United States' relative trade strength in goods decreased in October 2007 compared to September 2007 with the deficit rising from $65.8 billion to $66.8 billion for these two months. However, the United States' relative trade strength in services increased, with its surplus going up from $8.7 billion in September to $8.9 billion in October.

In October 2007, the relative trade strength in goods of the United States weakened compared to the European Union, Japan and China in September 2007. The goods deficit with the European Union increased from $6.4 billion in September to $11.9 billion in October; the goods deficit with Japan increased from $6.2 billion in September to $8.0 billion in October; and the goods deficit with China increased from $23.8 billion in September to $25.9 billion in October.

Which product groups had the largest increases in exports?

The September to October export of goods increase resulted from increases in capital goods ($1.3 billion) and other goods ($0.7 billion). The September to October change in exports of services resulted from increases in other private services ($0.2 billion), which includes items such as business, professional, and technical services, insurance services, and financial services; travel ($0.1 billion), and other transportation ($0.1 billion), which includes freight and port services.

Which had the largest increases in imports?

The September to October increased in imports of goods resulted from increases in industrial supplies and materials ($1.9 billion); consumer goods ($0.4 billion); and automotive vehicles, parts, and engines ($0.1 billion). The September to October change in imports of services resulted from an increase in other private services ($0.2 billion).

Bibliography

U.S. International Trade in Goods and Services Highlights (2007, December 12). U.S. Census Bureau Retrieved from Web site: http://www.census.gov/indicator/www/ustrade.html