The US trade gap unexpectedly narrowed in August, due to a rise in exports of services and a slump in demand for oil, commerce department figures showed on Friday.

The trade deficit fell 3.6 per cent to $30.7bn from July, following a 16.3 per cent jump the prior month, which was the sharpest rise in 10 years. The August data surprised economists who were expecting the deficit to widen because of higher oil prices.