US trade deficit drops in June on record rise in exports
The U.S. trade deficit fell in June for the first time since February as exports posted a record increase and rose twice as fast as imports
By
PAUL WISEMAN AP Economics Writer
August 5, 2020, 1:18 PM
1 min read
WASHINGTON — The U.S. 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% to $50.7 billion in June from $54.8 billion in May. Exports shot up an unprecedented 9.4% to $158.3 billion, and imports rose 4.7% to $208.9 billion.
