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Print[ferro-alloys.com] The U.S. trade gap in June narrowed sharply to the lowest level since October 2009 as imports declined and exports rose, U.S. Commerce Department said on Tuesday.
The total trade deficit dropped to 34.2 billion U.S. dollars in June, down 22.4 percent from a revised 44.1 billion dollars deficit in May.
Exports rose 2.2 percent from the previous month to 191.2 billion dollars in June, boosted by more overseas sales of consumer goods and industrial supplies.
Imports fell 2.5 percent from the previous month to 225.4 billion dollars in June. Purchases of foreign automotive vehicles and consumer goods decreased.
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