The June trade numbers are out, and it looks like economists were way off with their expectations.
The trade deficit shrank to $US34.2 billion from $US44.1 billion in May.
This is the smallest deficit since October 2009 reports Bloomberg.
Economists were looking for a deficit of $US43.5 billion.
Exports climbed 2.2% to a record $US191.2 billion driven by capital goods.
Imports declined by 2.5% to $US225.4 billion on lower oil imports.
Bloomberg notes that the petroleum deficit is at its lowest level since November 2010. During the month, the U.S. imported 234.3 million barrels of oil.
Business Insider Emails & Alerts
Site highlights each day to your inbox.