International Trade Balance Narrowed in June

The U.S. international trade deficit narrowed for the second consecutive month, falling to $43.6 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. June’s decrease was down $2.8 billion from a $46.4 billion trade deficit in May. The increase reflected a $2.4 billion growth in exports along with a $0.4 billion decrease in imports.

The goods deficit decreased $2.1 billion to $65.3 billion, while the services surplus grew $0.6 billion to $21.6 billion.

Exports of goods decreased just over $1.7 billion to $129.0 billion in June, driven by a $0.5 billion increase in petroleum products. Exports of services increased $0.6 billion to $65.4 billion.

Imports of goods decreased $0.4 billion to $194.3 billion, mostly due to a significant decrease in crude oil, which fell by $1.4 billion. Imports of services remained unchanged at $43.8 billion in June.

Read the Census/BEA release.