US trade deficit narrows in September as exports hit record high

4th Nov 2026 13:43

(Sharecast News) - The US trade deficit narrowed in September as exports and imports both climbed to fresh highs, with a surge in capital goods shipments helping offset stronger demand for foreign products.

According to the Bureau of Economic Analysis, the goods and services trade deficit fell to $105.1bn in September, down from $105.7bn in August, with the improvement reflecting a $700m decline in the goods deficit to $135.9bn, while the services surplus edged down by less than $100m to $30.9bn.

Exports rose by $5.8bn on the month to a record $321.5bn, while imports increased $5.2bn to $426.6bn.

Goods exports climbed $5.1bn to $211.0bn, led by a $3.8bn increase in capital goods, including gains in computers, computer accessories and civilian aircraft. Food, feed and beverage exports also strengthened, driven by a $1.3bn rise in soybean shipments. However, exports of industrial supplies and materials fell, largely due to a drop in non-monetary gold exports.

Services exports increased by $700m to $110.5bn, supported by higher travel spending and intellectual property-related receipts.

On the import side, goods imports rose $4.4bn to $346.9bn, with capital goods imports jumping $11.6bn, boosted by strong growth in computers and accessories, while consumer goods imports increased $2.4bn as pharmaceutical purchases climbed. These gains were partly offset by lower imports of industrial supplies, including crude oil and non-monetary gold.

For the first nine months of the year, the trade deficit narrowed by $92.4bn, or 12.2%, from the same period in 2025, with exports rising 11.6% year-on-year to date, significantly outpacing the 6.2% increase in imports.

Meanwhile, the three-month average trade deficit widened to $101.2bn in September from $89.9bn previously, as import growth continued to outstrip gains in exports.

Reporting by Iain Gilbert at Sharecast.com