The U.S. Commerce Department reported on Friday U.S. the goods and services trade deficit narrows to $55.2 billion in June from a revised $55.3 billion in the previous month (originally a gap of $55.5 billion).

Economists had expected a deficit of $54.6 billion.

According to the report, the June decline in the goods and services deficit reflected a decrease in the goods deficit of $0.8 billion to $75.1 billion and a fall in the services surplus of $0.6 billion to $20.0 billion.

Exports of goods and services from the U.S. dropped 2.1 percent m-o-m to $206.3 billion in June, while imports decreased 1.7 percent m-o-m to $261.5 billion.

Year-to-date, the goods and services deficit rose 7.9 percent (or $23.2 billion) from the same period in 2018. Exports increased less than 0.1 percent (or $0.5 billion), while imports jumped 1.5 percent (or $23.8 billion).