The U.S. Commerce Department on Wednesday reported that the country’s exports of goods and services for October reached an “all-time monthly high” of $192.7 billion, up from $189.3 billion in September, with record petroleum exports.
The trade deficit also improved to $40.6 billion from $43 billion in September.
“At the Department of Commerce, one of the top priorities of our ‘Open for Business Agenda’ is expanding our exporter base and creating more opportunities for American goods and services to reach new markets,” said Commerce Secretary Penny Pritzker in a statement.
She said her department “is committed to building on that success through an aggressive trade and investment agenda that helps more U.S. companies compete in the global marketplace.”
U.S. exports of goods and services over the last 12 months totaled $2.3 trillion, which is 43.1 percent above the level of exports in 2009. Over the last 12 months, exports have been growing at an annualized rate of 9.8 percent when compared to 2009.
Countries with the largest annualized increase in U.S. goods purchases, when compared to 2009, were Panama (27.6 percent), Russia (22.3 percent), the United Arab Emirates (20.9 percent), Hong Kong (20.7 percent), Peru (20.2 percent), Chile (19.3 percent), Colombia (18.7 percent), Argentina (17.2 percent), Ecuador (16.9 percent), and Saudi Arabia (16 percent), according to the U.S. Export-Import Bank.