The US trade deficit narrowed more than expected in July, as imports fell and exports climbed to their highest level in almost two years, according to Commerce Department figures released today.
The deficit in international trade of goods and services narrowed by 14 percent to $42.78 billion, from $49.76 billion in June, with imports down by 2.1 percent to $196.11 billion from $200.33 billion in June. Exports rose 1.8 percent to $153.3 billion, their highest since August 2008, and up from $150.57 billion in June.
