US trade deficit hits lowest point since 2020

Business Dec 11, 2025

In September, the US trade deficit dropped to $52.8 billion—its smallest since mid-2020.
This happened because exports jumped by 3%, while imports barely moved, surprising experts who expected a much bigger gap.

What's behind the numbers?

The big change came from record exports of gold and strong pharmaceutical exports, while Americans bought fewer imported cars, gadgets, and furniture.
Gold exports especially took off after earlier spikes in gold imports, which were tied to tariff concerns involving Switzerland.

Why does it matter?

A smaller trade deficit means net exports could boost the US economy for the third quarter.
The inflation-adjusted merchandise gap also hit a five-year low, showing how shifting global demand and tariff changes are reshaping what America buys and sells.