11 August 2010, 18:32  US trade deficit widens

The US trade deficit widened unexpectedly to a record 21-month high in June, as imports from its largest trading partners jumped. The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced today that total June exports of $150.5bn and imports of $200.3bn resulted in a goods and services deficit of $49.9bn, up from $42.0bn in May, revised. June exports were $2.0bn less than May exports of $152.4bn. June imports were $5.9bn more than May imports of $194.4bn. In June, the goods deficit increased $7.7bn from May to $62.0bn, and the services surplus decreased $0.2bn to $12.1bn. Exports of goods decreased $2.3bn to $105.0bn, and imports of goods increased $5.4bn to $167.0bn. Exports of services increased $0.3bn to $45.5bn, and imports of services increased $0.6bn to $33.3bn. The goods and services deficit increased $22.8bn from June 2009 to June 2010. Exports were up $22.6bn, or 17.7%, and imports were up $45.3bn, or 29.2%. Exports of goods and services decreased $2.0bn in June to $150.5bn, reflecting a decrease in goods exports. Imports of goods and services increased $5.9bn in June to $200.3bn, mostly reflecting an increase in goods imports.

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