FX.co ★ US Trade Gap Lowest Since 2009

In October 2025, the US trade deficit experienced a significant decrease, narrowing to $29.4 billion—the smallest since June 2009. This is a substantial drop from a revised $48.1 billion in September and falls well below the anticipated $58.1 billion deficit. The imposition of tariffs has caused notable fluctuations in trade dynamics, particularly impacting non-monetary gold and pharmaceutical products. Imports fell by 3.2% to a 21-month low of $331.4 billion, driven mainly by a sharp drop in pharmaceutical preparations, with smaller declines in non-monetary gold and transport goods. Conversely, there was an increase in the imports of computer accessories, telecommunications equipment, and computers. Meanwhile, exports grew by 2.6% to an all-time high of $302 billion, largely due to a surge in non-monetary gold and other precious metals, despite a decrease in exports of pharmaceuticals and government goods and services. The most significant trade deficits were recorded with Mexico ($17.9 billion), Taiwan ($15.7 billion), Vietnam ($15 billion), and China ($13.7 billion). Meanwhile, the trade deficit with the European Union narrowed considerably to $6.3 billion.