US trade deficit falls 4.1% to $65.5B in June

By Ovunc Kutlu

ISTANBUL (AA) - The US trade deficit fell $2.8 billion, or 4.1%, to $65.5 billion in June, according to data released Tuesday by the Commerce Department's Census Bureau.

The figure came in line with market expectations, while the May figure was revised from $69 billion to $68.3 billion, according to the figures.

Exports in June were $247.5 billion, $0.3 billion less than May exports, while imports in June were $313 billion -- $3.1 billion less than May imports.

"The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.8 billion to $88.2 billion and a decrease in the services surplus of less than $0.1 billion to $22.7 billion," the Census Bureau said in a statement.

"Year-to-date, the goods and services deficit decreased $117.7 billion, or 22.3 percent, from the same period in 2022. Exports increased $37.6 billion or 2.5 percent. Imports decreased $80.1 billion or 4.0 percent," it added.