WASHINGTON – The U.S. trade deficit widened in October as exports of U.S. goods fell to the lowest level in more than four years, a reflection of the impact of a weak global economy and stronger dollar.
The Commerce Department says the trade deficit widened 3.4 percent in October to $43.9 billion, compared to a revised $42.5 billion deficit in September.
Exports of goods and services fell 1.4 percent to $184.1 billion while exports of just goods dropped an even bigger 2.4 percent to $123.8 billion, the lowest level since June 2011.
Imports of goods and services were also down in October, dropping 0.6 percent to $228 billion. The drop in imports reflected in part falling oil prices, which pushed petroleum imports down to the lowest level in nearly 15 years.