Trade deficit in US increases by 4.9 percent to reach USD2.9B in September


(MENAFN) Data released by the Commerce Department's Census Bureau on Tuesday revealed that the US trade deficit increased by USD2.9 billion or 4.9 percent, reaching USD61.5 billion in September.

The anticipation had been for a deficit of USD59.9 billion, it's worth mentioning that the trade deficit in August was revised to USD58.7 billion, slightly up from the previously reported USD58.3 billion.

In September, exports amounted to USD261.1 billion, reflecting a gain of USD5.7 billion compared to August, while imports reached USD322.7 billion, representing an increase of USD8.6 billion compared to the previous month.

"The September increase in the goods and services deficit reflected an increase in the goods deficit of USD1.7 billion to USD86.3 billion and a decrease in the services surplus of USD1.2 billion to USD24.8 billion," the Census Bureau stated in a press release.

"Year-to-date, the goods and services deficit decreased USD147.4 billion, or 20.0 percent, from the same period in 2022. Exports increased USD22.7 billion or 1.0 percent. Imports decreased USD124.8 billion or 4.2 percent," it also said.

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