FXstreet.com (Barcelona) - US trade deficit in good and services has narrowed slightly in September thanks to increasing exports which could offset the negative contribution of increasing prices of imported crude, according to data by the US Commerce Department.

Deficit on goods an services has decreased to $56.45 billion from $56.80 billion in August, which has been downwardly revised from the initial $57.59 estimation.

The main reason for this decline has been increasing demand for American products; exports have risen 1.1% to $140.15 billion, while imports rose 0.6% to $196.60 billion, with food exports posting the biggest increase, followed by consumer goods.

On the negative side, oil imports have decreased to $20.38 billion, compared with $21.73 billion in August due to a $0.42 increase on the oil barrel price to $68.51.