U.S. Posts Widest Trade Gap in 20 Months

Imports increased 3% to $200.3 billion in June while exports declined 1.3% to $150.5 billion.

The U.S. trade deficit widened sharply in June to the highest level in 20 months on the back of rising imports, the government said on August 11.

The $49.9 billion trade gap was larger than the $42 billion posted in May, the Commerce Department said.

Imports increased 3% to $200.3 billion in June while exports declined 1.3% to $150.5 billion.

This is the largest trade gap since October 2008 at the height of the financial crisis, which plunged the world's largest economy into a brutal recession.

Most economists had expected the June deficit to be around $42.2 billion.

Copyright Agence France-Presse, 2010

TAGS: The Economy
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