US trade deficit widens to $84.4 billion in September

The U.S. trade deficit widened to $84.4 billion in September 2024, the highest level since April 2022 and slightly above the forecasted gap of $84.1 billion, compared to a downwardly revised shortfall of $70.8 billion in August.

US trade deficit widens to $84.4 billion in September

Exports fell by 1.2% to $267.9 billion after reaching a record high in August. The decline in exports was primarily due to lower sales of pharmaceutical preparations, civilian aircraft, crude oil, and maintenance and repair services. In contrast, shipments of government goods and services and transport increased.

Imports hit a record $352.3 billion, driven by pharmaceuticals and tech

Imports rose by 3% to a new record of $352.3 billion, primarily driven by pharmaceutical preparations, computers, passenger cars, semiconductors, nonmonetary gold, finished metal shapes, and transport. Conversely, imports decreased for charges related to intellectual property and travel.