U.S. trade deficit goes down in October

Date : 2013-12-06  | From : Xinhua

The U.S. trade deficit of goods and services edged down in October as the growth of exports outpaced that of imports, reported the Commerce Department Wednesday.

The total trade deficit dropped to 40.6 billion U.S. dollars in October, down from a revised 43 billion dollars in September.

Exports rose 1.8 percent from the previous month to 192.7 billion dollars in October, reflecting more overseas sales of foodstuffs, beverages, and industrial supplies, while imports increased 0.4 percent from the previous month to 233.3 billion dollars in October. Purchases of foreign automotive vehicles increased.

Trade deficit has been a drag of the U.S. economic growth for many years. The world's largest economy registered 534.7 billion dollars of trade deficit last year.