WASHINGTON, Dec 11 (Reuters) – The U.S. trade deficit unexpectedly narrowed in September, touching the lowest level in more than five years, as exports accelerated and imports rose marginally, suggesting that trade likely provided a boost to economic growth in the third quarter.
The trade gap contracted 10.9% to $52.8 billion, the lowest level since June 2020, the Commerce Department’s Bureau of Economic Analysis and Census Bureau said on Thursday.
Economists polled by Reuters had forecast the trade deficit increasing to $63.3 billion. The report was delayed because of the 43-day shutdown of the government.
Exports climbed 3.0% to $289.3 billion in September. Goods exports surged 4.9% to $187.6 billion, with shipments of consumer goods increasing to a record high.
Imports rose 0.6% to $342.1 billion. Goods imports advanced 0.6% to $266.6 billion. But imports of automotive vehicles, parts and engines were the lowest since November 2022.
The goods trade deficit compressed 8.2% to $79.0 billion, the lowest level since September 2020.
President Donald Trump’s protectionist trade policy, marked by sweeping tariffs, has caused big swings in the trade deficit, distorting the overall economic picture.
Trade sliced off a record 4.68 percentage points from gross domestic product in the first quarter before adding all that back to GDP in the April-June quarter.
Prior to the trade data, the Atlanta Federal Reserve estimated GDP increased at a 3.5% annualized rate in the third quarter. The government will release its first estimate of third-quarter GDP on December 23 after it was delayed by the longest shutdown in history.
The economy grew at a 3.8% pace in the April-June quarter.
(Reporting by Lucia Mutikani. Editing by Mark Potter)
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