The U.S. international trade deficit narrowed in September to $36.4 billion, down from $40.5 billion in August, according to the U.S. Census Bureau and the Bureau of Economic Analysis. The narrowing reflected a $1.0 billion increase in exports along with a $3.0 billion decrease in imports.
The goods deficit decreased $2.6 billion to $57.5 billion, while the services surplus increased $1.4 billion to $21.1 billion.
Exports of goods increased $0.6 billion to $126.1 billion in September, driven largely by a $2.1 billion increase in capital and consumer goods. Exports of foods decreased by $1.7 billion, largely due to a $2.0 billion decrease in soybean exports. Exports of services increased $0.4 billion to $63.1 billion.
Imports of goods fell $2.0 billion to $183.7 billion, mostly due to declines in capital goods, such as civilian aircraft, and consumer goods. Imports of services fell $1.0 billion due to declines in charges for the use of intellectual property associated with the 2016 Summer Olympic Games.
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