Economic news

U.S. trade gap at the lowest in over a year in May

The trade deficit of the United States dipped to the minimum in a year and a half in May, whereas exports jumped to the highest mark, propelled by bigger sales of soybeans and aircrafts.

Photo: Reuters

The difference between imports and exports contracted by 6.6% to $43.1 bln, the least from late 2016, according to today’s statement by the Commerce Department.

The real trade deficit’s decline in April-May means GDP could benefit from trade in the April-June quarter, though it was not affected by trade in the first quarter.


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