<p>The <a href="http://www.businessinsider.com/us-trade-balance-for-october-2013-12">U.S. trade deficit for October</a> came in basically in-line with expectations this morning, narrowing to -$40.6 billion from -$43 billion last month. </p>
<p>The detail that often garners the most interest is <keyword id="6359072" type="CITY" weightage="60" keywordseo="oil">oil</keyword> <keyword id="35091" type="CITY" weightage="60" keywordseo="imports">imports</keyword>. <span style="line-height: 1.5em;">These actually increased slightly from September, to $32.1 billion from $31.7 billion. </span><span style="line-height: 1.5em;">But they're down from $34.7 billion last October.</span></p>
<p>More importantly, U.S. oil imports remain well below 2012 levels: Year-to-date, we are 11% lower than where we were in October 2012.</p>
<p>Chart:</p>
<p><div class="KonaFilter image-container"><div class="image"><img src="http://static3.businessinsider.com/image/529f3588ecad048d3c58f400-1000-503/petroleum%20imports.png?maxX=800" border="0" alt="petroleum imports" width="800" /><p class="source"><a href="http://www.census.gov/foreign-trade/Press-Release/current_press_release/#ft900">Census</a></p></div><p></p></div></p>

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BusinessInsider

US Oil Imports Are Down 11% From Last Year

The U.S. trade deficit for October came in basically in-line with expectations this morning, narrowing to -$40.6 billion from -$43 billion last month. The detail that often garners the most interest is oil imports. These actually increased slightly from September, to $32.1 billion from $31.7 billion. But they're down from $34.7 billion last October. More importantly, U.S. oil imports remain well below 2012 levels: Year-to-date, we are 11% lower than where we were in October 2012. Chart: Census

US Oil Imports Are Down 11% From Last Year

Rob Wile

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