U.S. ex­ports rise, nar­row trade deficit

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM -

WASH­ING­TON — The U.S. trade deficit nar­rowed in June as ex­ports hit the high­est level in 2½ 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.

U.S. ex­ports may be get­ting a lift from a pickup in global eco­nomic growth and a drop in the value of the U.S. 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 to $276.6 bil­lion.

The deficit means the United States is buy­ing more goods and ser­vices from other coun­tries than it is sell­ing them. A shrink­ing trade gap boosts U.S. eco­nomic growth.

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