- Prior was +1.94B
- Exports 61.53B vs 64.85B prior
- Imports 64.97B vs 62.91B prior
Exporrts fell 3.8% while imports rose 3.0%, leading to the largest trade deficit since October 2020 in a big surprise that will drag down Q2 GDP. Exports of energy products fell 7.3% on lower prices while imports of motor vehicles and parts rose 4.5% m/m and 22.4% y/y.