US Trade Deficit Hits $105bn in September

Tech imports for US data centres drove a large share of the widening gap, according to newly reported trade figures.

Updated on Nov. 4, 2026 in International Trade

Isometric editorial illustration of stacked shipping containers beside a yellow gantry crane lifting a crate, in oxblood, teal, mustard, and cream. — The US trade deficit widened to $105 billion in September, with imports of tech products for American data centres rising to $87 billion. AI Illustration. Upload story photo >

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The US trade deficit reached $105bn in September, with a $64bn shortfall in computers, peripherals and semiconductors accounting for part of the total. Imports of tech products destined for US data centres rose to $87bn in September.

Why it matters

The scale of the tech trade deficit makes net exports a significant drag on US GDP growth, even as tech capital spending and AI-related spending support year-on-year growth. Three years ago the US was a net exporter of tech products, a shift that leaves much of the value added from domestic data-centre investment flowing overseas.

Monthly trade figures show tech data-centre imports reached $87bn in September, roughly four times the level of under two years earlier, with imports from Taiwan up 60% and from Korea up 35%. How much of this inventory will be drawn down in coming quarters remains unclear.

The details

Much of the value added from US tech and data-centre investment is coming from overseas, and chips going into data centres are counted in the contribution from tech capex and AI token spending to GDP growth. Part of the imported tech product ended up in inventory building that is expected to be used in coming quarters.

Less than two years ago: tech imports for data centres were around $20bn per month.
Three years ago: the US was a net exporter of tech products.
September: the US trade deficit reached $105bn and tech imports reached $87bn.
Coming quarters: imported tech inventory is expected to be used.

Market Dynamics

The September deficit extends a three-year shift in which the US moved from being a net exporter of tech products to a large net importer, reversing the trade position it held before the data-centre buildout. That reversal is now a measurable drag on the broader macroeconomic picture.

A widening trade deficit driven by tech imports can weigh on net exports and GDP growth, which matters for portfolio allocations tied to the technology and data-centre sectors. Investors tracking these figures may watch how quickly imported inventory is drawn down in the quarters ahead.

The takeaway

The data shows the AI and data-centre buildout is boosting US tech spending while sending a growing share of the value added overseas. Readers tracking GDP or their own investments should watch how net exports and imported tech inventory evolve in coming quarters.