U.S. Trade Deficit Narrows as Energy Exports Rise
Natural gas, food supplies and gold drove a 1.7% increase in exports, while imports dropped
The U.S. trade deficit narrowed sharply in June to its lowest level in six months as a rise in shipments of energy products pushed up exports, while cooling consumer appetite weighed on imports.
The trade gap in goods and services shrank 6.2% in June to $79.6 billion after seasonal adjustment, the Commerce Department said Thursday, down from May’s revised deficit of $84.9 billion. That marked the first time the deficit has been below $80 billion since December 2021.