U.S. Posts Slightly Lower Trade Deficit

In part as a result of a $2.5 billion increase in goods exports, the U.S. trade deficit with the rest of the world fell slightly to $64.8 billion in June, $200 million less than May's revised deficit of $65 billion, the U.S. Commerce Department reported on August 10.

In June, the U.S. exported $120.7 billion worth of goods and services, a figure that was more than offset by imports valued at $185.5 billion.

Among exports, such manufactured items as capital goods, industrial supplies and materials, automotive goods and consumer goods posted month-to-month increases of at least $200 million.

Again, the U.S. ran its largest single-country trade deficit with China. The deficit was $19.7 billion in June, up $2 billion from 17.7 billion in May. For the first six months of 2006, the U.S. ran a $101.8 billion trade deficit with China.

For the first six months of this year, the U.S. ran a goods and services trade deficit of $383.9 billion with the rest of the world, $43.7 billion larger than the $340.2 billion deficit with the rest of the world for the first half of 2005.

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