The US trade deficit in June grew by nearly 7% due to increased imports

The US trade deficit rose to $75.7 billion in June, which is 6.7% more than the previous month, as a result of increased imports, due to the recovery of the economy, as reported today in Washington. , Ministry of Commerce.

The June deficit hit a new all-time high, surpassing the US$75 billion recorded in March.

In June, exports rose 0.5% to $207.7 billion, while imports increased 2.1% to $283.4 billion.

The goods deficit with China rose to $27.8 billion in June, up 5.8% from May. While in the cumulative semester it reached 158,500 million US dollars, an increase of 19.2% over the same period in 2020.

During the first six months of this year, the US trade deficit was 428.6 billion US dollars, 46.4% higher than the deficit during the same period in 2020, when demand for US imports was declining due to the pandemic.

Analysts estimate that the increase in the deficit may begin to slow in the coming months, as the initial surge in consumer spending and increased growth in third countries help boost US export sales.

The goods trade deficit reached $93.2 billion in June, while the services sector recorded a surplus of $17.4 billion.

The United States usually has a surplus of services, such as air travel and hotels, but that number has fallen this year due to the pandemic’s impact on overseas travel.

(Tillam)

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Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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