US trade gap widened slightly in July as exports fell

Workers build a GM crossover SUV as it goes through the assembly line at the General Motors The US trade gap with China hit a record $29.4bn in July

Related Stories

The US trade deficit grew slightly in July as exports fell at a faster pace than imports.

The Commerce Department said the trade deficit widened to $42bn (£26bn), 0.2% more than June's gap of $41.9bn.

However, the deficit was still lower than many analysts' forecasts of about $44bn.

US exports fell 1% to $183.3bn, lowered by weaker sales to eurozone nations. Imports fell 0.8% to $225.3bn, with oil imports falling 6.5%.

But imports from China hit a record $37.9bn in July, pushing the trade gap with the country to a record $29.4bn.

The imbalance with Europe rose to the highest level since October 2007. Exports to Europe fell 11.7% as recessions in the region cut into demand.

Exports to Germany were the lowest since February 2010 and the deficit with the European Union was the widest since October 2007.

The US is also exporting less to big emerging economies. For example, sales of goods to Brazil fell 4.4%. Exports to India dropped more than 1%.

The exports of vehicles, telecoms equipment and heavy machinery were all lower.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • RihannaCloud caution

    After celebrity leaks, what can you do to safeguard your photos?


  • Cesc FabregasFair price?

    Have some football clubs overpaid for their new players?


  • Woman and hairdryerBlow back

    Would banning high-power appliances actually save energy?


  • Rack of lambFavourite feast

    Is the UK unusually fond of lamb and potatoes?


  • Members of staff at James Stevenson Flags hold a Union Jack and Saltire flag UK minus Scotland

    Does the rest of the UK care if the Scots become independent?


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.