July Trade Gap at $44.8B, Down From June’s $51.6B

WASHINGTON — The U.S. trade balance shrank 13.1% in July to $44.8 billion as exports increased and import prices for petroleum products eased, the Commerce Department reported Thursday.

Exports rebounded, increasing by $6.2 billion, or 3.6%, following two months of declines. The gain was led by more exports of industrial supplies, capital goods and autos.

Imports eased for the second month in a row, declining by $500 million, or 0.2%.

July’s drop in the trade deficit was the largest since February 2009. The June trade deficit was revised to $51.6 billion from $53.1 billion reported last month.

Economists polled by Thomson Reuters predicted a $51 billion deficit.

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