Trade deficit at lowest level since 2010
Record exports and declining oil prices narrowed the U.S. trade deficit in June to its lowest level since 2010.
The U.S. deficit in international trade of goods and services decreased 10.7 percent in June from May to a seasonally adjusted $42.92 billion, the Commerce Department said.
The May trade deficit was revised to $48.04 billion from an originally reported $46.68 billion.
June exports rose 0.9 percent to $184.97 billion, led by increased sales of consumer goods; vehicles, parts and engines; and industrial supplies.
Imports fell 1.5 percent to $227.90 billion, mainly because of a drop in crude oil imports and a 7 percent month-to-month decline in average crude prices.
The trade deficit with China expanded 5.2 percent to $27.4 billion as exports declined while imports rose. U.S. exports to China slipped to $8.5 billion, while imports totaled $35.9 billion.
The U.S. increased exports to other areas of the world, including Europe, where the U.S. goods trade deficit decreased from $10.5 billion in May to $8.5 billion in June.
