US trade deficit nar­rowed to $43.6bn in June

Kuwait Times - - BUSINESS -

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

—AP

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.

Newspapers in English

Newspapers from Kuwait

© PressReader. All rights reserved.