A strong increase in exports combined with a drop in imports combined to shrink the U.S. trade deficit much more than expected, according to figures released Thursday by the Commerce Department.
Commerce Department figures project a total level of U.S. exports of $185 billion for June with imports of $227.9 billion leading to a deficit of $42.9 billion.
The deficit marks a 10.7 percent drop from the revised May level of $48 billion, which was itself revised down from the $48.7 billion initially reported.
While most economists had expected the deficit to decline, most had predicted a far smaller drop to $47.5 billion.
June exports, up $1.7 billion or 0.9 percent, set a new record in raw dollar terms, eclipsing the previous record set earlier this year, according to Commerce Department figures.
Also contributing to the drop in the deficit was a $3.5 billion, or 1.5 percent, decline in imports for June, down from the may level of $231.4 billion.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.