The U.S. trade deficit narrowed sharply in October as an increase in exports of U.S. energy and agricultural commodities outpaced growth in imports, which were restrained by a backlog at U.S. ports that month.
The deficit in trade of goods and services fell by 17.6% to a seasonally adjusted $67.1 billion in October, the Commerce Department said Tuesday, compared with a record $81.4 billion gap in September.
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