October Trade Deficit Narrows to Lowest Since June 2009 Amid Record Exports, Delayed Data Show

12:48 PM EST, 01/08/2026 (MT Newswires) -- The US trade deficit narrowed in October to its lowest since the middle of 2009 as exports hit the highest on record while imports fell, delayed government data showed Thursday.

The goods and services deficit reduced 39% sequentially to $29.35 billion in October on a seasonally adjusted basis, the Census Bureau and the Bureau of Economic Analysis said. That's the lowest monthly deficit recorded since June 2009, the data showed. The consensus was for a deficit of $58.7 billion in a Bloomberg-compiled survey.

Exports increased 2.6% to $302.02 billion in October, the highest on record. Exports of goods and services also reached record figures, according to official data. Overall imports fell 3.2% to $331.37 billion, though the services component hit an all-time high, the data showed.

The trade report was delayed due to a record-long US federal government shutdown last year.

The goods trade deficit with the European Union declined to $6.28 billion in October from $17.83 billion the previous month. The trade gap widened to $13.72 billion from $11.36 billion with China, but narrowed to $2.27 billion from $3.78 billion with Canada, according to the report.

The goods trade surplus with the UK jumped to $6.81 billion from $1.06 billion, while the deficit with Japan expanded to $4.21 billion from $3.6 billion, the data showed.

Year-to-date, the US goods and services deficit increased 7.7% year over year, according to the report.

President Donald Trump's sweeping tariffs took effect in August. The US Supreme Court has set Friday as an opinion day, making it the first possibility for a ruling on the legality of his reciprocal tariffs, news outlets recently reported.

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