US trade deficit reaches $73.3 billion in September

Exports decreased by 1.1%, while imports grew 1.5%.

This is a significant rise, 11.6% compared to August, when a 4.3% drop was recorded, and more important than expected by analysts, who forecast a deficit of 72.3 billion dollars, according to data published by MarketWatch.

In terms of imports, the rise is mainly explained by semiconductors and electronic and pharmaceutical products.

The deficit with China, which continues to be the main trade partner of the United States, was reduced, but it increased with the European Union and Mexico.

Since the beginning of the year the deficit had been shrinking. This is its first increase in 2022.

Exports of goods decreased by 3,400 million dollars, mainly in the category of raw materials, including energy and food products. Services, meanwhile, increased $900 million, driven by the tourism sector.

A smaller trade deficit was the main driver of the rise in Gross Domestic Product (GDP) in the third quarter. The economy grew at an annual rate of 2.6% last quarter, after contracting 0.6% in the second.

With information from Reuters