Washington, September 3, 2020, SPA -- The US trade deficit surged in July to the highest level in 12 years, as imports jumped by a record amount, the government reported Thursday. The US Commerce Department said the July trade deficit—the gap between what the country buys and what it sells abroad—surged 18.9 percent to $63.6 billion. It was the biggest monthly deficit since mid-2008, during the Great Recession. The July deficit increase was driven by a record 10.9 percent increase in imports, which rose to $231.7 billion. Exports rose a smaller 8.1 percent to $168.1 billion. The United States ran a deficit in goods trade of $80.1 billion in July, the highest on record. The U.S. surplus in services, such as banking and insurance, declined to $17.4 billion, the smallest since mid-2012 and a reflection of the decline in airline travel during the pandemic. --SPA 18:56 LOCAL TIME 15:56 GMT 0015 www.spa.gov.sa/w1403730