U.S. trade deficit narrowed in July as exports rose

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The trade deficit narrowed by 14 percent in July as exports by American companies rose by about $2.8 billion, according to government figures released on Thursday.

The Department of Commerce statistics showed that exports totaled $153.3 billion in July, up from $150.6 billion in June. A $2.3 billion increase in capital goods, most of it civilian aircraft, accounted for the bulk of the export increase. Industrial supplies and materials, and food and beverages also rose.

The trade deficit narrowed to $42.8 billion, down from a revised $49.8 billion in June, the department said. Imports totaled $196.1 billion in July, $4.2 billion less than June. Most of the decline, $1.9 billion, came from fewer consumer goods being brought into the country.

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