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The U.S. Commerce Department released the trade data on Friday. The U.S. trade deficit narrowed to $43.4 billion in October from a deficit of $43.6 billion in September. September's figure was revised down from a deficit of $43.0 billion. Analysts had expected the trade deficit to narrow to $41.2 billion.
Exports increased 1.2% in October.
Exports to the European Union climbed 8.5% in October. Exports to China jumped 36%, while exports to Japan increased 4.0%.
Imports rose 0.9% in October. Petroleum imports reached the lowest level since November of 2009.
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