The US trade deficit in goods and services increased 9.4% in July from a month earlier, with China recording the highest deficit.
The deficit reached US$50.1bn for the month, up $4.3bn from $45.7bn in June, according to trade statistics released by the US Census Bureau. Exports were down 1% to $211.1bn, while imports were up 0.8% to $261.2bn.
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Year-to-date, the goods and services deficit increased 7% on last year. Exports have risen 8.6% over the same period as a year earlier while imports have increased 8.3%.
Meanwhile, the deficit in goods trade rose 6.1% to $73.1bn in July, while imports of goods edged up 0.9% to $213.9bn.
The largest deficits were recorded with China ($34.1bn), the European Union ($14.5bn), and Mexico ($6.2bn). A deficit of $3.2bn was recorded with Canada.
Surpluses for the month of July were recorded with South and Central America ($3.4bn), Hong Kong ($2.5bn), Brazil ($0.6bn), United Kingdom ($0.4bn), and Singapore ($0.2bn).
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By GlobalData
