U.S. Trade Gap Jumps By $2.3 Billion
August 11, 2011 by UPI - United Press International, Inc.
WASHINGTON, Aug. 11 (UPI) — The U.S. international trade deficit rose to $53.1 billion in June, up from an upwardly revised $50.8 billion in May, the U.S. Census Bureau said Thursday.
The previous estimate for May was $50.2 billion.
For June, exports totaled $170.9 billion, while imports totaled $223.9 billion.
Exports, at $170.9 billion, were down $4.1 billion compared with May, while imports, at $223.9 billion, were $1.9 billion less than May, the bureau said in a release.
Exported goods were $121.2 billion in June, down $4.1 billion from the month before, while exports of service were $49.6 billion, unchanged from May.
Imported goods fell to $188.8 billion in June, down $1.9 billion from the previous month. Imported services were unchanged at $35.1 billion.
The trade gap widened with China, climbing from $25 billion in May to $26.7 billion, and with the Organization of Petroleum Exporting Countries, rising from $11.3 billion to $13.8 billion. In trades with Japan, the gap soared from $2.6 billion in May to $4 billion in June.
The trade gap also widened slightly with Germany, Venezuela, Nigeria, Canada, Ireland, Taiwan and Korea.