The US trade deficit fell by 22.4% to $34.2bn (£22.3bn) in June, the smallest gap since October 2009.
The percentage contraction was also the largest since February 2009.
The three-month average of the trade deficit, which irons out monthly volatility, also fell to $39.5bn in the three months to June from $40.5bn in the previous period.
Meanwhile, May’s trade shortfall was revised to $44.1bn from the previously reported $45.0bn.
The smaller June deficit could lead the government to revise economic growth for the April-to-June quarter up from its initial estimated annual rate of 1.7%.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.