US Trade Deficit Rises to 14-Year High

  • 2/5/2023
  • 05:47
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Washington, October 06, 2020, SPA -- The US trade deficit increased in August to the highest level in 14 years, as imports continue to grow faster than exports, the government reported Tuesday. The US Commerce Department said the imbalance between the goods and services the United States sells and what it buys abroad climbed 5.9 percent in August to $67.1 billion, the highest since August 2006. Exports increased 2.2 percent to $171.9 billion while imports rose a bigger 3.2 percent to $239 billion. The US deficit in the trade of goods set a record high of $83.9 billion in August. The country ran a surplus of $16.8 billion in the trade of services, such as banking and education, the lowest since early 2012. --SPA 19:37 LOCAL TIME 16:37 GMT 0020 www.spa.gov.sa/w1424505

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