WASHINGTON: The US trade deficit narrowed in October to the smallest gap of the year, thanks to a surge in exports underpinned by a weaker dollar and a shrinking gap with China, official data showed Friday. The Commerce Department reported the trade gap stood at a seasonally adjusted $38.7 billion, down 13 percent from a revised $44.6 billion in September. The September gap was revised a tick upward from a prior estimate of $44.0 billion. The politically sensitive gap with China shrank 8.3 percent, to $25.5 billion. Exports, which President Barack Obama has pledged to double by 2015 to support the US economic recovery, increased 3.2 percent from September, while imports fell 0.5 percent. According to Federal Reserve data, the dollar was worth 2.6 percent less in October than the month before compared with the currencies of US trading partners. The Commerce Department reported record exports to China, the second-largest US trading partner, at $5.9 billion, and to number-three Mexico, at $12.7 billion. – Agence France
