US trade deficit narrows to $105 billion in September

The US trade deficit narrowed 0.7 per cent to $105 billion in September, according to data released by the US Commerce Department.

Exports advanced 1.9 per cent to $321.5 billion, while imports increased 1.2 per cent to a record high of $426.6 billion.

Goods imports rose 1.3 per cent to $346.9 billion. Capital goods imports shot up by $11.6 billion to a record high of $158 billion, driven by imports of computers and computer accessories.

Imports of consumer goods rose by $2.4 billion, while imports of semiconductors dropped by $1.2 billion and imports of industrial supplies and materials fell by $3.7 billion.

Goods exports increased 2.5 per cent to $211 billion. Exports of capital goods reached an all-time high of $73.3 billion, while exports of food and beverages rose to $16 billion, the highest level since June 2022, boosted by soybean shipments.

Imports of services increased to a record high of $79.7 billion, while exports of services advanced to an all-time high of $110.5 billion.

The goods trade deficit tightened 0.5 per cent to $135.9 billion in September. But when adjusted for inflation, the goods trade deficit widened 3 per cent to $119.5 billion.

WAM