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September 9, 2010 9:45 AM, EDT

U.S. Trade Deficit Narrows

Larry Smith/Trans Pixs

The U.S. trade deficit narrowed in July following a record jump in June, the Commerce Department said Thursday.

The 19% decline in the gap between imports and exports was the biggest decline since February 2009 and left the deficit at $42.8 billion.

The level was lower than the $47 billion forecast by economists, Bloomberg reported.

Imports fell 2.1% to $196.1 billion, while exports rose 1.8% to $153.3 billion.

The June deficit had risen by a record $7.9 billion to $49.9 billion, the highest level since October 2008.