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January 13, 2011 9:30 AM, EST

U.S. Trade Deficit Drops to 10-Month Low

Larry Smith/Trans Pixs

The U.S. trade deficit fell to a 10-month low in November, the Commerce Department said Thursday.

The gap between imports and exports declined 0.3% to $38.3 billion, from an initially reported $38.7 billion in October.

Economists had forecast a $40.5 billion deficit, Bloomberg reported. The decline was due to a weaker U.S. dollar and more foreign demand for U.S. goods such as aircraft, Bloomberg said.

U.S. exports rose 0.8% to $159.6 billion, while imports rose 0.6% to $198 billion.