| U.S. trade deficit grows to 42 bln USD in July |
| Last Updated(Beijing Time):2012-09-12 07:55 |
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The U.S. trade deficit edges up slightly in July, with a decline of exports outpacing a drop of imports, the Commerce Department said on Tuesday.
The total trade deficit grew to 42 billion U.S. dollars in July, up from a revised 41.9 billion dollars in June. Exports fell 1 percent from the previous month to 183.3 billion dollars in July. Imports shed 0.8 percent from the previous month to 225.3 billion dollars in July.
The U.S. trade deficit with the 27-nation European Union expanded to 12 billion dollars in July from 8.4 billion dollars in June. Its trade deficit with China rose 7.3 percent to 29.4 billion dollars in the period.
Trade deficit has been a drag of the U.S. economic growth for many years. U.S. economy grew at an annual rate of 1.7 percent in the second quarter, with real exports increasing 6 percent and real imports increasing 2.9 percent. |
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