US trade deficit shrinks to lowest level since 2009

In the latest positive economic figures, the Department of Commerce reported Tuesday the U.S. trade deficit shrank in June to its lowest level since 2009. The trade gap fell 22.4 percent to USD 34.2 billion, the smallest in more than three and a half years, driven down by a decrease in imports, particularly crude oil. Imports dropped 2.5 percent to USD 225.4 billion, their lowest level since March. Exports, particularly fuel oil and petroleum, ticked up 2.2 percent in June to a record of USD 191.2 billion, from 187.1 billion in May. Analysts had forecasted the deficit to fall marginally to USD 43 billion. (end) hy.gb KUNA 062155 Aug 13NNNN