The U.S. Commerce Department’s Census Bureau and Bureau of Economic Analysis today released the balance of foreign trade for September 2012. The trade deficit narrowed 5.1 percent from August to September, to $41.5 billion–significantly better than market expectations that the monthly deficit would grow. Exports rose 3.1 percent, to $187.0 billion, and imports increased 1.5 percent, to $228.5 billion. Goods exports increased by $5.4 billion to a record high $134.0 billion. Services exports rose by $0.3 billion to $53.0 billion, also a record high. 

“Although more work remains, today's report shows that we're making historic progress toward achieving President Obama’s goal of doubling our exports by the end of 2014. Total U.S. exports hit a record high in September, as did export levels of both goods and services,” said Acting U.S. Commerce Secretary Rebecca Blank. “Travel and tourism also continues to be a bright spot, with today’s data showing year-to-date exports 8 percent ahead of the same period last year. These kinds of increases mean more American jobs-1.2 million jobs were supported by exports between 2009 and 2011.”