FX.co ★ US Trade Deficit Narrows Slightly

The US trade deficit narrowed slightly to $105 billion in September 2026 from $105.7 billion in August, outperforming market expectations of a $108 billion shortfall. Exports rose 1.9% to a five-month high of $321.5 billion, driven by higher shipments of computers, soybeans, crude oil, computer accessories, civilian aircraft, and pharmaceutical preparations. These gains were partly offset by a decline in exports of nonmonetary gold.

Imports increased at a slower pace of 1.2% but still reached a record $426.6 billion. The rise was led by stronger purchases of computers, computer accessories, and pharmaceutical preparations, while imports of semiconductors, nonmonetary gold, and crude oil decreased.

The largest bilateral trade deficits were recorded with Mexico ($-28.7 billion), Vietnam ($-25.3 billion), Taiwan ($-21.9 billion), China ($-17.9 billion), the European Union ($-14.2 billion), and South Korea ($-12.8 billion). The deficit with Canada stood at $4.4 billion.

Most US exports were shipped to the EU, Mexico, and Canada, while imports came predominantly from Mexico, the EU, and Canada.