U.S. Trade Deficit Shrinks
September 8, 2011 by UPI - United Press International, Inc.
WASHINGTON, Sept. 8 (UPI) — U.S. international trade shifted from a revised $51.6 billion deficit in June, to $44.8 billion in July, the U.S. Census Bureau said Thursday.
For July, exports rose $6.2 billion to $178 billion, while imports fell $.5 billion to $222.8 billion.
Exports of goods rose $5.7 billion to $126.9 billion in July. Exports of service rose by $500 million to $51.1 billion.
Imported goods fell by $700 million to $187.5 billion. Imports of services rose by $100 million to $35.3 billion.
The trade gap widened with China, climbing from $26.7 billion in June to $27 billion in July, but shrank with the Organization of Petroleum Exporting Countries, dropping from $13.8 billion to $11.9 billion.
In trades with Japan, the gap climbed sharply for the second consecutive month, rising from $4 billion in June to $5.3 billion.
Contracting trade deficits were posted with Hong Kong, the European Union, Mexico, Nigeria, Venezuela, Taiwan and Korea.