Imports, U.s. Trade Deficit | featured news

The U.S. trade deficit narrowed in October to its lowest point of the year as Americans bought fewer foreign cars and imported less oil. Exports of American-made autos also fell.

The U.S. trade deficit surged in May to the highest level in more than two and a half years, driven upward by a big increase in oil imports.

American companies sold more computers, heavy machinery and telecommunications equipment in foreign markets in April, pushing exports to a record high. Imports declined, reflecting a big drop in auto imports from Japan caused by supply disruptions from the March earthquake and tsunami.

The U.S. trade deficit widened more than expected in February as a small gain in exports to the highest level in 16 months was offset by a bigger jump in imports, reflecting increased demand for consumer goods from televisions to clothing.