WASHINGTON (dpa-AFX) - With exports increasing by more than imports, the Commerce Department released a report on Wednesday showing the U.S. trade deficit unexpectedly shrank in the month of September.
The Commerce Department said the trade deficit narrowed to $105.0 billion in September from a revised $105.7 billion in August.
Economists had expected the trade deficit to widen to $107.9 billion from the $105.6 billion originally reported for the previous month.
The decrease in the size of the trade deficit came as the value of exports surged by 1.9 percent to $321.5 billion in September after jumping by 1.6 percent to $315.7 billion in August.
The report showed notable increases in exports of capital goods, soybeans and pharmaceuticals, which helped more than offset a steep drop in exports of non-monetary gold.
Meanwhile, the Commerce Department the value of imports shot up by 1.2 percent to $426.6 billion in September after soaring by 4.4 percent to $421.4 billion in August.
A spike in imports of capital goods, including computers and accessories, was partly offset by a significant decrease in imports of industrial supplies and materials.
'While the deficit narrowed slightly in the final September trade report, it also confirmed that AI-related goods continue to boost imports,' said Grace Zwemmer, U.S. Economist at Oxford Economics.
She added, 'Demand for high-tech goods related to the AI-buildout shows no sign of slowing and will keep import growth solid in 2027.'
The report also said the goods deficit narrowed to $135.9 billion in September from $136.6 billion in August, while the services surplus edged slightly lower to $30.9 billion.
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