U.S. Trade Deficit Narrows In October
The nation's trade balance - the difference between total exports and imports - shrank to a deficit of $43.5 billion in October, down from $44.2 billion a month ago, according to the U.S. Department of Commerce.
October exports were $179.2 billion, down $1.5 billion from September. Imports were $222.6 billion, down $2.2 billion.
Exports of capital goods such as computers were $42.3 billion, the highest on record, as were petroleum exports at $10.4 billion.
Imports of foods, feeds and beverages also set a record at $9.4 billion, as did imports of capital goods at $43.6 billion.
Exports to China, the third largest importer of U.S. goods, reached their highest point since December 2010 at $10.1 billion. Imports from that country set an overall record at $37.8 billion.
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