US trade deficit at 3-year low; narrows to $34.2 billion in June

Exports rose 2.2 per cent to $191.2 billion in June. US companies shipped more aircraft engines, telecommunications equipment, heavy machinery and farm goods.

WASHINGTON: The US trade deficit narrowed sharply in June to its lowest level in more than 3 years. Exports rose to all-time high and imports declined, signs that economic growth could be stronger than previously thought.


The Commerce Department said Tuesday that the June deficit fell 22.4 per cent to $34.2 billion. That's the lowest since October 2009 and down from May's imbalance of $44.1 billion, which was revised lower. 

Exports rose 2.2 per cent to $191.2 billion in June. US companies shipped more aircraft engines, telecommunications equipment, heavy machinery and farm goods.