US trade deficit falls to 9-month low in in July

By Ovunc Kutlu

ANKARA (AA) – The US trade deficit in July fell to its lowest level since October last year, according to official data released on Wednesday.

The goods and services deficit declined 12.6% to $70.6 billion in July, approximately $10.2 billion lower than June’s revised figure of $80.9 billion, the Commerce Department’s Census Bureau said in a statement.

The market expectation for the deficit figure was $70.3 billion.

Exports stood at $259.3 billion in July, $0.5 billion more than June, while imports were at $329.9 billion with a drop of $9.7 billion from the previous month.

“The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $8.2 billion to $91.1 billion and an increase in the services surplus of $2.1 billion to $20.4 billion,” the statement said.​​​​​​​