washingtonthe uss trade deficit widened sharply in october as exports fell amid slowing global demand for us energy goods such as petroleum and natural gas the trade gap in goods and services expanded in october to a seasonally adjusted 782 billion the commerce department said tuesday up from a revised 741 billion in september exports fell 07 to 2566 billion reflecting reduced shipments of natural gas petroleum and pharmaceuticals energy prices have declined from highs earlier in the year related to ukraine warrelated supply disruptions imports continued to expand due in part to higher us purchases of energy products vehicles and pharmaceuticals rising 06 to 3348 billion consumers increased spending in october ahead of the holiday season despite high inflation and economic uncertainty economists polled by the wall street journal had forecast an october trade deficit of 80 billion growth in trade is likely to slow around the world at the of 2022 and early 2023 as the global economy faces challenges caused by the war in ukraine high inflation and interest rates increases in the us and other nations the world trade organization said last week the wtos trade barometer a composite leading indicator of trade fell to 962 in november from 100 in august reflecting cooling demand for traded goods the international monetary fund expects the global economic growth rate to slow to 27 in 2023 down from 32 projected for this year and 6 in 2021 as inflation cuts into economic activities and peoples living conditions