US trade deficit falls 2.5% in June from 19-month high

By Ovunc Kutlu

ISTANBUL (AA) - The US trade deficit decreased 2.5% to $73.1 billion in June, falling from its highest level since October 2022, according to the Commerce Department's Census Bureau on Tuesday.

The expectation for the figure was to show a deficit of $72.5 billion.

The figure for May was slightly revised to $75 billion from $75.1 billion.

Exports in June were $265.9 billion, $3.9 billion more than in May, while imports were $339 billion -- $2 billion more than the previous month.

"The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.5 billion to $97.4 billion and a decrease in the services surplus of $0.6 billion to $24.2 billion," the Census Bureau said in a statement.

"Year-to-date, the goods and services deficit increased $22.7 billion, or 5.6 percent, from the same period in 2023. Exports increased $58.0 billion or 3.8 percent. Imports increased $80.7 billion or 4.2 percent," it added.