Market Updates
U.S. Trade Deficit Widened In May to an 18-month High
Brian Turner
03 Jul, 2024
Washington, D.C.
International goods and services trade deficit widened to $75.1 billion in May, the U.S. Bureau of Economic Analysis reported Wednesday.
Trade deficit widened to the largest level since October 2022 after exports fell more than imports in the month.
Exports decreased 0.7% to $261.7 billion and imports fell 0.3% to $336.7 billion, resulting in a trade deficit of $75.1 billion.
Deficit with China in May increased to $24 billion from $20.1 billion in the previous month, widened with Mexico to $14.8 billion from $13.7 billion, and narrowed with the European Union to $22.7 billion from $25.9 billion.
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