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US trade deficit narrowed to $43.6 bln in June

US trade deficit narrowed to $43.6 bln in June

WASHINGTON: The U.S. trade deficit narrowed in June as exports hit the highest level in 2 ½ 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.