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.