U.S. Trade Deficit Narrows to $73.3 Billion in June Amid Declining Imports

• U.S. trade deficit narrowed to $73.3 billion in June.
• Imports fell 1.8%, exports fell 0.9%.
• Figure was slightly wider than the $73.0 billion estimate.

The U.S. trade deficit narrowed in June, reaching $73.3 billion, according to recent Commerce Department reports. This figure represents a 5.6% reduction from the revised $77.19 billion recorded in May, yet it was slightly wider than the $73.0 billion economists had anticipated. The contraction was primarily driven by a 1.8% decline in imports, marking the first such fall since the beginning of the year, while exports also decreased by 0.9%. Year-to-date, the goods and services deficit has decreased by 33.8% compared to the same period last year.