World News | US Trade Deficit Drops in June on Record Rise in Exports
Get latest articles and stories on World at LatestLY. The US trade deficit fell in June for the first time since February as exports posted a record increase, rising twice as fast as imports.
Washington, Aug 5 (AP) The US trade deficit fell in June for the first time since February as exports posted a record increase, rising twice as fast as imports.
The Commerce Department said Wednesday that the gap between the value of what the United States buys and what it sells abroad fell 7.5 per cent to USD 50.7 billion in June from USD 54.8 billion in May.
Exports shot up an unprecedented 9.4 per cent to USD 158.3 billion, and imports rose 4.7 per cent to USD 208.9 billion. (AP)
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