US trade deficit increases in July

The US goods and services trade deficit increased by $5.8 billion to $78.8 billion in July on the back of increased imports, a rise of 7.9%.

The trade deficit in goods with China increased by $4.9 billion to $27.2 billion in July, as exports decreased by $ 1 billion and imports increased by $3.9 billion. The total trade deficit with China reached $60.5 billion.

The US showed strong surpluses with the Netherlands of $19.9 billion, South and Central America with $17.4 billion and Australia with $8.8 billion.

The US registered its largest trade deficits with China at $60 billion, Mexico at $43 billion and the EU with $ 38 billion.

Vehicle exports in general decreased by $1.7 billion while semi-conductor exports increased by $1.7 billion.

By Staff