US October trade balance posts $29.4bn deficit… lowest in 16 years
JOON HYOUNG LEE
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Summary
- The US Department of Commerce said the US trade balance posted a $29.4bn deficit in October last year, the lowest level in 16 years.
- The trade deficit in October last year narrowed by about 39% from the previous month, coming in far below Dow Jones’ consensus forecast of $58.4bn.
- US imports in October last year fell to $331.4bn, while exports rose to $302.0bn, the department said.
The US trade deficit in October last year fell to its lowest level in 16 years.
The US Department of Commerce said on the 8th (local time) that the US trade balance in October last year posted a deficit of $29.4bn (about KRW 42.7trn). The deficit narrowed by about 39% from September last year, a month earlier.
The figure came in far below the consensus forecast compiled by Dow Jones ($58.4bn).
The October deficit was the smallest in 16 years since June 2009 (a $27.2bn deficit).
Imports totaled $331.4bn, down $11.0bn from the previous month. Exports, meanwhile, rose $7.8bn from a month earlier to $302.0bn.
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