Singular Bank | According to the BEA, in October, US exports rebounded by 2.6% month-on-month compared to the previous month. At the same time, imports fell significantly by 3.2%. Year-on-year, exports grew by 12% and imports fell by 3.6%. Given this development, the US trade deficit fell by 39.0% compared to September to $29.4 billion (versus $48.1 billion in September), representing its lowest level since 2009.
In October, the largest trade deficits were recorded with Mexico ($17.9 billion), Taiwan ($15.7 billion), Vietnam ($15 billion) and China ($13.7 billion). The trade gap with the EU narrowed dramatically to $6.3 billion.
