The US trade deficit reached an unprecedented level 10 years ago

The US trade deficit hit a new high last October, reaching an unprecedented level in 10 years, under the influence of record imports and a drop in exports.

According to figures released by the US Commerce Department, the deficit in the goods and services sectors amounted to 55.5 billion dollars, with exports falling 0.1 percent to 211 billion dollars and imports up 0.2 percent to 266.5 billion.

The deficit is higher than analysts' estimate of $ 54.7 billion.

The deficit in the goods sector alone rose by 9.8 percent from September.

The US trade deficit reached an unprecedented level 10 years ago

The trade deficit with China, which Washington is seeking to reach a trade deal with, after a truce last week, posted a new rise in October to $ 38.18 billion (+2 percent).

The trade deficit with Beijing, which is not adjusted for quarterly changes, is an absolute record, the Commerce Department said.

In October, Americans bought more consumer goods, pharmaceuticals, automobiles and auto parts, while food and beverage exports, as well as the core civil aviation sector, traditionally lifting US exports, declined.

With a 10-month build-up, the trade deficit with the rest of the world rose by 11.4 percent.