Trade Deficit Shrinks as Exports Hit Record High

Trade Deficit Shrinks as Exports Hit Record High
Shipping containers are unloaded from a ship at the Port of Los Angeles complex, in Los Angeles, Calif., on April 7, 2021. Lucy Nicholson/Reuters
Tom Ozimek
Updated:
0:00

The U.S. trade deficit narrowed sharply in June to its lowest level in six months as exports hit a record high, a trend that could see exports adding to gross domestic product (GDP) in the third quarter after the economy contracted for two consecutive quarters this year, meeting the rule-of-thumb definition for a recession.

The U.S Department of Commerce said on Aug. 4 that the trade deficit fell 6.2 percent, to $79.6 billion, as imports inched down while exports soared.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
twitter
Related Topics