The U.S. Commerce Department reported Friday the nation’s trade deficit in September fell 9.9 from a month prior amid stronger exports.
The U.S. trade deficit totaled $36.4 billion in September, marking the lowest level since February 2015, according to data from the U.S. Commerce Department.
The nation’s trade deficit in September, which fell 9.9 percent from a month prior, was even lower than analyst expectations, as exports were on the rise.
Analysts polled by the Wall Street Journal projected the U.S. trade deficit would total $37 billion in September, while analysts survey by Reuters anticipated a deficit of $37.8 billion.
U.S. exports in September reached $189.2 billion, a 0.6 percent increase from August.
Meanwhile, U.S. imports in September fell 1.3 percent from August to $225.6 billion. However, the nation’s imports in August did experience a temporary boost due to charges for the use of intellectual property, reflecting payments for the rights to broadcast the 2016 Olympic games.
In September, surpluses, in billions of dollars, were recorded with Hong Kong ($2.5), South and Central America ($1.8), the United Kingdom ($0.9), Singapore ($0.7) and Brazil ($0.3).
However, deficits, in billions of dollars, were recorded with China ($26.9), the European Union ($11.7), Japan ($5.4), Germany ($5.3), Mexico ($4.8), Italy ($2.8), India ($2.2), South Korea ($1.4), OPEC ($1.2), France ($0.8), Taiwan ($0.5), Canada ($0.4), and Saudi Arabia ($0.1).
Overall, for the first nine months of 2016, the U.S. trade deficit declined 2.5 percent from the corresponding period in 2015.
U.S. trade deficit hits 19-month low
