12/5/2019, 2:30 PM (Source: TeleTrader)
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US trade deficit narrows to $47.2B in October

The United States international goods and services trade deficit narrowed by $3.9 billion or 7.6% month on month to stand at $47.2 billion in October, the US Census Bureau and the US Bureau of Economic Analysis said in a report on Thursday. The figure shows the country's smallest deficit since May 2018.

Exports from the US stood at $207.1 billion, down by 0.2% from September, while imports amounted to $254.3 billion, falling 1.7% month-on-month.

The largest deficit was recorded with China and stood at $27.8 billion. The US' trade deficits with the European Union and Mexico were $14.3 billion and $7.8 billion, respectively. On the other hand, the biggest trade surplus was observed with South and Central America at $4.7 billion, followed by a surplus of $1.9 billion with OPEC.

Breaking the News / NP