The U.S. goods-and-services trade deficit narrowed by $4.4 billion in June to $73.3 billion, according to a joint report from the Census Bureau and Bureau of Economic Analysis. The change reflected a larger decline in imports than in exports, meaning the smaller deficit did not result from an overall expansion in cross-border trade during the month.
Exports totaled $314.7 billion, down $2.9 billion from May. Imports declined by $7.3 billion to $388.0 billion. The monthly figures are adjusted for seasonal patterns but not for price changes, so part of the movement in their dollar values can reflect changing prices as well as changing quantities.
The goods deficit decreased by $3.9 billion to $102.1 billion. At the same time, the services surplus increased by $0.5 billion to $28.8 billion. Goods exports fell by $4.0 billion to $206.9 billion, while services exports rose by $1.1 billion to $107.8 billion.
Goods imports fell by $7.9 billion to $309.0 billion. Capital-goods imports decreased by $2.1 billion, including a $3.0 billion reduction in computers, although telecommunications equipment increased. Consumer-goods imports also declined by $2.1 billion, led by pharmaceutical preparations. Services imports rose by $0.6 billion to $79.0 billion.
A price-adjusted measure told a similar monthly story. In chained 2017 dollars, the real goods deficit decreased by $5.3 billion to $94.5 billion as real imports fell more than real exports. Through June, the goods-and-services deficit was $189.3 billion, or 33.8 percent, smaller than in the same period of 2025.
Monthly trade data are revised as later customs records and services information become available. The deficit is also an accounting balance rather than a stand-alone measure of economic strength: it can change because of domestic demand, foreign demand, prices, exchange rates or supply disruptions.