U.S. exports rise, narrow trade deficit
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.