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U.S. trade deficit drops to $40.6 billion in October

By The Associated Press

This article was published December 4, 2013 at 11:11 a.m.

WASHINGTON — The U.S. trade deficit fell in October, helped by America’s energy boom that lifted overall exports to an all-time high.

The trade gap narrowed to $40.6 billion in October, the Commerce Department said Wednesday. That’s 5.4 percent lower than the September gap of $43 billion, which was higher than initially estimated.

Exports rose 1.8 percent to a record $192.7 billion, buoyed by a 6 percent gain in petroleum exports. Imports rose 0.4 percent to $233.3 billion, the highest since March 2012. Oil imports rose 1.5 percent.

Read tomorrow's Arkansas Democrat-Gazette for full details.

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