AFP, Washington :
Record oil exports helped shrink the US trade deficit in August, pointing to stronger economic growth in the third quarter, a Commerce Department report showed Friday.
The trade gap fell to $40.1 billion in August from $40.3 billion in July.
The July number was revised down slightly from $40.5 billion.
Total August exports increased 0.2 percent to $198.5 billion, while imports rose 0.1 percent to $238.6 billion.
Economists on average had forecast the trade gap would swell to $40.9 billion. .
Declining oil imports were a key driver of the smaller shortfall. The petroleum products deficit fell to $13.1 billion, its lowest level since July 2004.
Amid booming US oil production, petroleum product exports surged to a record $14.1 billion, while imports fell 3.9 percent to $27.2 billion.
The US trade gap has been on a downward trend since June, with the three-month moving average falling to $40.4 billion in August from $41.5 billion the prior month.
