US trade deficit shrinks slightly despite record imports
The US trade deficit fell by 0.7% in September to $105 billion, despite imports reaching a record high, while the economy grew at a rate of 3.4% in the third quarter.
Translated by Qiyas from كونا — Original source
Washington, Nov 4 (KUNA) – U.S. government data released on Wednesday showed a slight narrowing of the U.S. trade deficit in September, despite strong domestic demand pushing imports to a record high. The Bureau of Economic Analysis and the Census Bureau, both under the U.S. Department of Commerce, reported in two simultaneous releases that the trade deficit “fell by 0.7 percent to $105 billion,” below economists’ expectations of $108 billion.
Last week, the Commerce Department issued a report estimating that imports “dragged 2.64 percentage points off third-quarter GDP growth,” the largest such drag since the first quarter of 2025, when companies rushed to place advance orders ahead of the broad tariffs imposed by U.S. President Donald Trump. In its preliminary estimates for GDP released last week, the department said the economy “grew at an annualized rate of 3.4 percent during the July–September quarter,” noting that trade had failed to contribute to GDP growth for four consecutive quarters.
In September, imports rose 1.2 percent to $426.6 billion, a record level. Goods imports also climbed 1.3 percent to a record high of $346.9 billion. On the export side, exports increased 1.9 percent to $321.5 billion, with goods exports rising 2.5 percent to $211 billion. (End) R.S.R./H.S.S.
