US trade deficit narrowed to $43.6bn in June
WASHINGTON: The US trade deficit narrowed in June as exports hit the highest level in 2 1/2 years. The Commerce Department said Friday that the trade gap slid 5.9 percent in June to $43.6 billion.
Exports of goods and services rose 1.2 percent to $194.4 billion, the highest amount since December 2014 on higher foreign demand for American soybeans, computer accessories and other products. Services exports reached a record $65.4 billion. US exports may be getting a lift from a pickup in global economic growth and a drop in the value of the US dollar against other currencies. A weaker dollar makes American products a better bargain in foreign markets.
Overall imports slipped 0.2 percent to $238 billion on a drop in demand for cellphones and other household goods. So far this year, the trade deficit is up 10.7 percent
BALTIMORE: In this Oct 24, 2016 photo, a crane hangs over a container ship at the Port of Baltimore in Baltimore. The Commerce Department reported on the US trade gap for June.