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US trade deficit up 3.4 percent in October to $43.9 billion

FILE - In this Feb. 15, 2015 file photo, the Space Needle towers in the background beyond a container ship anchored in Elliott Bay near downtown Seattle. The U.S. trade deficit widened in October 2015 as exports of U.S. goods fell to the lowest level in more than four years, a reflection of the impact of a weak global economy and stronger dollar. The Commerce Department says the trade deficit widened 3.4 percent in October to $43.9 billion, compared to a revised $42.5 billion deficit in September. (AP Photo/Elaine Thompson, File)
FILE - In this Feb. 15, 2015 file photo, the Space Needle towers in the background beyond a container ship anchored in Elliott Bay near downtown Seattle. The U.S. trade deficit widened in October 2015 as exports of U.S. goods fell to the lowest level in more than four years, a reflection of the impact of a weak global economy and stronger dollar. The Commerce Department says the trade deficit widened 3.4 percent in October to $43.9 billion, compared to a revised $42.5 billion deficit in September. (AP Photo/Elaine Thompson, File)

By Associated Press 2 min read

WASHINGTON (AP) – The U.S. trade deficit widened in October, the Commerce Department said Friday, as exports of U.S. goods fell to the lowest level in more than four years, a reflection of the impact of a weak global economy and stronger dollar.

THE NUMBERS: The trade deficit, the difference between exports and imports, widened 3.4 percent in October to $43.9 billion, compared to a revised $42.5 billion deficit in September. Exports of goods and services fell 1.4 percent to $184.1 billion while exports of just goods dropped an even bigger 2.4 percent to $123.8 billion, the lowest level since June 2011.

Imports of goods and services were also down in October, dropping 0.6 percent to $228 billion. The drop in imports reflected in part falling oil prices, which pushed petroleum imports down to the lowest level in nearly 15 years.

The deficit with Mexico rose 10.2 percent to $33 billion, the biggest deficit with Mexico in more than three years. The deficit with China fell 9.1 percent to $33 billion, still the largest imbalance with any country.

THE TAKEAWAY: A rising trade deficit acts as a drag on overall growth. For October, it means that American manufacturers and farmers were able to sell fewer goods in overseas markets.