U.S. Trade Gap Narrows as Autos Spur Record Exports Increase (1)

The deficit in U.S. trade of goods and services narrowed in June for the first time since February as exports jumped, though shipments remained well below pre-pandemic levels.

Exports increased from the prior month by 9.4%, the most in records back to 1992 to $158.3 billion, according to Commerce Department data released Wednesday. Imports climbed 4.7%, the most since March 2015, to $208.9 billion.

Both increases reflected a pick-up in shipments of autos and parts after factories restarted production.

The overall gap in goods and services trade narrowed to $50.7 billion, compared to the median estimate of $50.2 billion by ...