US trade deficit falls to 6-month low of US$49m

A SURGE in deliveries of commerical aircraft and soyabeans has resulted in the US trade deficit narrowing sharply in March as exports increased to a record high.

According to statistics released by the US Commerce Department the trade gap dropped 15.2 per cent to US$49 billion, the lowest level since September. Revised figures for February showed that the trade gap widened to US$57.7 billion, which was the highest level since October 2008, instead of the previously reported US$57.6 billion.

March's decline ended six straight monthly increases in the trade deficit. Economists polled by Reuters had forecast the trade gap narrowing to US$50 billion in March, according to the Business Times of Singapore.

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