U.S. September trade deficit of $84.4 billion...Highest in 2 years and 5 months

The U.S. trade deficit reached $84.4 billion in September, the largest in two years and five months.

The U.S. Commerce Department said the figure was up 19.2% from $70.8 billion the previous month, the highest level since April 2022.

This is a result that far exceeds expert forecasts, AFP and Reuters reported.

Imports rose 3.0% month-on-month to $352.3 billion and are believed to have been affected by the year-end holiday season ahead and the decision to significantly increase inventory reserves in preparation for last month's port union strike.

Exports fell 1.2% to $267.9 billion from the previous month, while the trade deficit in trade with China edged up to $26.9 billion from $24.7 billion in August.