Jan. 7 (UPI) -- The U.S. trade deficit has fallen by more than 8 percent, to $43.1 billion, reaching its lowest level in President Donald Trump's administration, government figures showed Tuesday.
The report showed the deficit decreased in November, the most recent month for which the government has figures, by $3.9 billion -- a decline of 8.2 percent.
The deficit fell by more than most analysts projected. A Dow Jones survey predicted a gap of $43.6 billion.
The trade deficit is now at its lowest level in three years.
The numbers also showed U.S. exports increased by $1.4 billion while imports fell by $2.5 billion, compared with October.
The analysis said the lion's share of the shrinking trade deficit resulted from a reduction in the gap with China -- which decreased $2.2 billion to $25.6 billion in November. Imports from China decreased by $800 million.
The larger than expected narrowing has put the United States on track for its first annual decline since 2013. The deficit stood at $563 billion in the first nine months of 2019, compared to $567 billion in the same span in 2018.