Home » U.S. merchandise trade deficit widened to 91.2 billion U.S. dollars in June, the second highest in history

U.S. merchandise trade deficit widened to 91.2 billion U.S. dollars in June, the second highest in history

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Original Title: The U.S. Merchandise Trade Deficit Expanded to 91.2 billion U.S. Dollars in June, the second highest in history

Source: Wall Street

The latest data show that the US merchandise trade deficit widened to the second highest ever in June due to increased imports of oil and other commodities.

Data from the US Department of Commerce on Wednesday showed that the US merchandise trade deficit in June was 91.2 billion U.S. dollars, higher than May’s 88.2 billion U.S. dollars. Previously, economists surveyed by Bloomberg expected the median value of the data to be a deficit of $88 billion.

In addition, the total import and export volume of the United States in June climbed to 382.1 billion U.S. dollars, a record high.

In terms of splits, US imports in June rose by 1.5% to a record US$236.7 billion, due to a surge in imports of industrial products such as petroleum. Prior to this, crude oil futures rose by 11% in June, breaking through $74/barrel, rising for the third consecutive month. In addition, US exports in June rose by 0.3% to 145.5 billion U.S. dollars.

There are many reasons for the increase in U.S. imports. Bloomberg believes that the main reason is that the U.S. government’s bailout policy and higher household savings have caused Americans to increase their buying behavior. After all, the increase in retail sales is evidence. As for other reasons, the increase in imports is also due to US companies replenishing inventories. Previously, US companies’ inventories were significantly reduced due to the global supply interruption caused by the epidemic.

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In other respects, due to the shortage of pallets and containers, ports around the world are also crowded, and freight rates have risen to record highs.The shortage of global semiconductor supply has hindered manufacturers’ production plans, forcingGeneral MotorsAutomakers including Ford and Ford cut auto production.

All this led to the third consecutive month of decline in U.S. auto imports, down 2.5% to 28.5 billion U.S. dollars; exports increased by 1.7% to 11.6 billion U.S. dollars, rebounding from the lowest level since mid-2020; auto wholesale inventories climbed to 0.8%, Retail inventory increased to 0.3%.

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Editor in charge: Yang Yalong

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