The U.S. goods-and-services trade deficit narrowed by $700 million in September as exports grew faster than imports, even as import totals reached records in government historical comparisons.
The U.S. Census Bureau and the Bureau of Economic Analysis (BEA) released the figures Wednesday, putting the deficit at $105.0 billion, down from a revised $105.7 billion in August. Exports increased $5.8 billion, or 1.9%, to $321.5 billion. Imports rose $5.2 billion, or 1.2%, to $426.6 billion.
September’s total imports, goods imports and services imports each reached their highest levels in the BEA’s historical comparison. The monthly goods-and-services balance series begins in January 1992. The figures are seasonally adjusted and are not adjusted for price changes.
The goods deficit narrowed by $0.7 billion to $135.9 billion. The services surplus, which offsets part of that gap, edged down by less than $0.1 billion to $30.9 billion.
On a Census basis, capital-goods imports rose $11.6 billion. Computers accounted for a $7.6 billion increase and computer accessories for $5.7 billion. The broader release follows EconoTimes’ advance September goods-trade report and builds on its earlier coverage of capital-goods imports.
The monthly decline did not carry through to the latest three-month comparison. The average monthly deficit for July through September was $101.2 billion, $11.3 billion above the previous three-month average and $36.5 billion higher than the same period a year earlier. For January through September, the deficit was $92.4 billion, or 12.2%, below the first nine months of 2025.
Reuters reported that economists it polled had expected a $108.0 billion September deficit. The news agency attributed import strength to resilient consumer spending and investment in artificial intelligence; the government release did not state a cause for the increase.
The October trade figures are scheduled for release Dec. 8.
