The US trade deficit narrowed by 5.6% from the previous month to $73.3 billion in June, according to a press release from the Department of Commerce.
In May, the trade deficit was $77.6 billion, as previously reported.
Analysts on average had expected the deficit to decline to $73 billion, according to Trading Economics.
Exports fell by $2.9 billion (0.9%) in June to $314.7 billion, the lowest in four months. Goods exports decreased by $4 billion to $206.9 billion. Oil exports dropped by $5.7 billion, and computer exports by $1.1 billion.
Service exports rose by $1.1 billion to $107.8 billion.
Meanwhile, imports declined for the first time since January, falling by $7.3 billion (1.8%) to $388 billion. Goods imports decreased by $7.9 billion to $309 billion, including a $3 billion drop in computer imports and a $1.9 billion drop in pharmaceutical imports.
Service imports increased by $0.6 billion to $79 billion.
The goods trade deficit narrowed by $3.9 billion to $102.1 billion in June, while the services surplus rose by $0.5 billion to $28.8 billion.
The goods trade deficit with Taiwan narrowed by $4.5 billion to $14.9 billion, while the deficit with South Korea widened by $3 billion to $7.4 billion. In trade with Switzerland, a surplus of $2.9 billion was recorded in June, compared with a deficit of $2.3 billion in the previous month.
In January-June, the total US trade deficit was $371.2 billion, compared with a record $560.5 billion in the same period last year. Exports rose 11.7%, while imports increased 0.4%.