US July Trade Deficit Widens 24.4% to $88.6 Billion
The US trade deficit in goods and services widened 24.4% month-on-month in July to $88.6 billion, the highest in over a year, as exports fell 2.1% and imports rose 2.8%, Commerce Department data showed. Exports totaled $310.7 billion, while imports reached $399.3 billion.
The US trade deficit in goods and services widened 24.4% month-on-month in July to $88.6 billion, the highest level in over a year, as exports declined and imports increased, according to Commerce Department data released on September 3.
Exports of goods and services totaled $310.7 billion in July, down 2.1% from the previous month, while imports rose 2.8% to $399.3 billion. The goods trade deficit widened significantly by $17.6 billion to $119.6 billion, while the services trade surplus edged up $0.2 billion to $31.0 billion.