Report: U.S. trade deficit ballons to $80.9B

Nov. 4 (UPI) -- The U.S. trade deficit reached an all-time high of $80.9 billion in September, sparked by consumer demand for computers, electric equipment and industrial supplies, the Commerce Department said Thursday.

The trade deficit grew 11.2% in September alone, maintaining what has been a steady increase in the U.S. trade deficit through the year. It marked the deepest climb over a one-month period since July 2020.

"September exports were $207.6 billion, $6.4 billion less than August exports," the report said. "September imports were $288.5 billion, $1.7 billion more than August imports. The September increase in the goods and services deficit reflected an increase in the goods deficit of $8.9 billion to $98.2 billion and an increase in the services surplus of $0.8 billion to $17.2 billion."

The Commerce Department said year-to-date, the goods and services deficit increased $158.7 billion, or 33.1%, from the same period in 2020. Exports increased by $274.1 billion or 17.4%. Imports increased by $432.8 billion or 21.1%.

In the three-month moving average, goods and services deficit jumped $2.6 billion to $74.7 billion for the period ending in September. The three-month average for exports dropped to $211.4 billion over the same period.

Imports on goods like computers increased $1.2 billion, electric apparatus by $500 million, and industrial supplies and materials by $1 billion. Organic chemicals imports jumped by $900 million along with cellphone and other household goods ($1.8 billion).

Import decreases included $2.2 billion in automotive vehicles, parts, and engines, $1.7 billion in passenger cars and $1.3 billion in pharmaceutical preparations.