The US trade deficit narrowed in September after hitting a 14-year high in the previous month as exports outpace imports.
The Commerce Department said Wednesday that the gap between what the US sells and buys overseas narrowed to $ 63.9 billion in September, down 4.7% from the $ 67 billion deficit in August.
September exports rose 2.6% to $ 176.4 billion, fueled by a 12.9 billion increase in food and beverage exports, a record since July 2012. Soybean exports in September rose by 63%.
Imports rose 0.5% to 240.2 billion, of which 13.5 billion were purchases in the food and beverage category alone, which were the highest ever.
Since the beginning of the year, the deficit of goods and services jumped by $ 38.5 billion, or 8.6%, to $ 485.6 billion. The total deficit of goods and services for the same period in 2019 amounted to 447.1 billion.