U.S. Trade Deficit Jumps to $60.9 Billion

June 10, 2008

Trade deficit with China increased 25.9%

A surge in imports and skyrocketing oil prices pushed the U.S. trade deficit in April to $60.9 billion, government data showed June 10.

The monthly jump in the trade gap by 7.8% was the largest since September 2005 and was higher than economists' estimates of $60 billion.

The Commerce Department report showed a surge of $9.4 billion in imports, including $5.4 billion for oil and related products, outstripping the increase in exports of $5 billion.

The trade deficit with China leapt 25.9% to $20.2 billion, representing one-third of the overall gap.

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