Gain in Exports Helps US Narrow Trade Deficit

The US trade deficit narrowed more than expected in July to $42.8 billion as imports fell 2.1 percent, and exports increased 1.8 percent to $153.3 billion, the highest since August 2008. Economists had forecast a deficit of $47 billion, according to a Bloomberg News survey.

“The U.S. still has a decent export market, and that’s providing a cushion for the U.S. manufacturing industry,” said David Sloan, a senior economist at 4Cast Inc. in New York. The trade figures are “good for the third-quarter GDP outlook.”

Source: Bloomberg

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at Visit to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.