An uptick in exports and fall in imports brought the August US trade deficit to its lowest level in five months, according to government data released Tuesday.

The overall trade gap in the world's biggest economy was $70.4 billion, said the Department of Commerce, down from a revised $78.9 billion in July.

This was narrower than analysts expected and the lowest since March.

Exports rose by 2.0 percent to $271.8 billion, helped by goods like aircraft and telecommunications equipment, alongside pharmaceutical preparations and autos.

But exports of semiconductors fell during the month.

Overall imports slipped by 0.9 percent to $342.2 billion, on decreases in industrial supplies and passenger cars.

With the central bank cutting interest rates sharply in September, however, the US economy could receive somewhat of a boost in the coming months.

The goods deficit with China -- a point of contention during the trade war between the United States and China -- slid by $2.6 billion to $24.7 billion in August, according to Commerce Department data.

This came as imports decreased in August while exports climbed.