Washington, DC, November 10--The trade deficit in international trade of goods and services fell to $51.56 billion in September from a downwardly revised shortfall of $53.55 billion in August, according to a Commerce Department report.
The August deficit was previously reported at $54.04 billion.
September marked the fourth straight month with the trade deficit above $50 billion. Economists surveyed had forecast a deficit of $53.50 billion.
The U.S. imported a total of 303.61 million barrels of crude oil in September, down from 331.19 million in August, at an average price of $37.62 a barrel. Despite the $1.25 increase in the average per-barrel price, lower volume meant that the nation's oil bill dipped to $11.42 billion from $12.04 billion in August. Overall imports of energy-related petroleum products totaled $14.97 billion.
The value of the U.S. dollar compared with other major currencies has been moving downward. Earlier this week, the euro surged to an all-time high against the dollar. The dollar's slide helps U.S. exporters and manufacturers because it makes their goods and services cheaper and more competitive to foreign buyers.
Deficits with major trading partners were mixed in September, Commerce said. The politically sensitive shortfall with China swelled to $15.52 billion -- the highest ever. But the deficit with Japan dipped to $6.10 billion, and that with the euro area fell by over $2.0 billion to $5.73 billion. The deficit with Canada fell to $5.29 billion and the shortfall with Mexico widened to $3.82 billion.
