Arab Today, arab today us trade gap expands in august as trade slows overall
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

US trade gap expands in August as trade slows overall

Arab Today, arab today

Arab Today, arab today US trade gap expands in August as trade slows overall

Washington - AFP

The US trade deficit widened in August to $44.2 billion as trade overall slowed from July amid the weakening global economy, the Commerce Department said Thursday. Exports fell 1.0 percent from July to $181.2 billion, while imports were less than 0.1 percent lower at $225.5 billion. For the nine months to August, the picture was better: export growth from a year earlier was 5.0 percent, outpacing import growth so that the deficit only expanded 1.4 percent to $374.4 billion for the period. However, for the crucial trade relationship with China, the major contributor to the US overall deficit, the shortfall surged 7.2 percent to $203.1 billion over the first nine months of 2012 compared with the same period last year.

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