United States Trade Deficit Remains at Relatively High Level in September

Xinhua News Agency reported that figures released by the United States Department of Commerce on the fourth showed the goods and services trade deficit remained at a relatively high level since March of last year, decreasing month-on-month. According to the official data, goods and services exports increased by 1.9% month-on-month, whereas goods and services imports grew by 1.2% over the same monthly period. Concurrently, the deficit in goods trade shrank, while the recorded trade surplus in services experienced a slight month-on-month decline. Goods exports rose during the month, propelled by higher exports of capital goods as well as food, feed, and beverages. Concurrently, inbound shipments of capital goods and consumer goods both expanded, while imports of industrial supplies and materials fell, leading to a net gain in overall goods imports. The Department of Commerce stated that United States exports in services trade, along with combined goods and services imports, both established fresh record highs for any period since records began.