The US trade deficit rose in July to its highest level since 2008 in light of a record increase in imports, indicating that trade may be a factor hindering economic growth in Third quarter.
According to Reuters, the US Department of Commerce said on Thursday that the trade deficit jumped 18.9 percent to $ 63.6 billion, the highest level since July 2008.
economists polled by Reuters had expected the deficit to widen to $ 58 billion in July.
imports rose at a historical rate of 10.9 percent to $ 231.7 billion.
the value of imported goods rose 12.3 percent to $ 196.4 billion. Exports increased 8.1 percent to $ 168.1 billion.
"text-align: justify;"> merchandise exports increased 11.9 percent to $ 115.5 billion. Less bill of trade exchange contributed to the GDP in the last three quarters.
The coronavirus crisis has severely disrupted trade flows, which are now increasing.
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