Trade Deficit Declines 3.6%, Commerce Says

The U.S. trade deficit fell 3.6% in August, as exports rose to the highest level of the year and oil imports fell, the Commerce Department said Friday.

The gap between imports and exports fell to $30.7 billion, from $31.9 billion in July, Commerce said.

Economists had forecast the deficit would rise to $33 billion from an initially reported $32 billion in June, Bloomberg said.

Exports rose 0.2%, led by a $496 million gain in auto and parts sales. Imports fell 0.6%, to $158.9 billion.