WASHINGTON - The US trade deficit widened in October as exports fell sharply from the prior month amid a slowing global economy, government data released Tuesday showed.
The trade gap increased to US$42.2 billion from a revised US$40.3 billion in September, the Commerce Department said.
Exports fell by 3.6 percent, while imports fell by 2.1 percent.
The decline in exports was the sharpest since January 2009, led by a 4.8 percent drop in goods exports.
"Trade looks to contribute slightly to US GDP growth again in the current quarter, but pronounced weakness in exports and imports says all there is to say about the US economy's momentum," said Sal Guatieri at BMO Capital Markets.
The politically sensitive trade shortfall with China, one of the United States' biggest trading partners, expanded to a record US$28.1 billion, bringing the year's 10-month total to US$245.5 billion.
The three-month average trade deficit rose to US$41.7 billion in October from US$41.5 billion in September.
- AFP/ir
US trade gap widens in October as exports fall
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US trade gap widens in October as exports fall
