(MENAFN) In accordance to the decrease in imports volume in July, the US trade deficit shrank by 7.3 percent to USD41.9 billion from a month earlier.
In July, exports increased USD0.8 billion from June to USD188.5 billion, followed by a USD2.5 billion drop in imports to USD230 billion.
As far as the first half of this year is concerned, goods and service deficit went up 3.6 percent from 2014, with exports and imports plunging 3.5 percent and 2.2 percent respectively.
Despite this narrowing, the US economy is still harmed due to the decreasing global demand and strong dollar, let alone dropping energy prices.
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