The US trade deficit fell 12.6% in July

The US trade deficit fell 12.6% in July
This content was published on Sep 07, 2022 – 12:56

Washington, September 7 (EFE). The US deficit in its foreign trade of goods and services decreased by 12.6% in July compared to the previous month, reaching $70,600 million, the Bureau of Economic Analysis (BEA) reported this Wednesday, in English.

In the seventh month of the year, imports declined by 2.9% compared to June and amounted to $329.9 billion, while exports increased by 0.2% to reach $259.3 billion.

This new drop in imports reveals a moderating trend in consumption at a time of hyperinflation which is also the result of the dollar’s appreciation against the Euro.

Thus, the consequences of the euro-dollar parity can be seen in trade relations with the European Union and the trade deficit decreased by 5700 million to 11900 million, with a decrease in imports from 4000 million to 43300 million.

In July, the goods trade deficit with China, which is considered politically sensitive in the United States, fell by $3.9 billion to $33 billion, driven by a $3 billion drop in imports from that country to $39,300 million. EFE

Bim / Hajj

EFE 2022. Redistribution and redistribution of all or part of the contents of the EFE Services, without the prior and express consent of Agencia EFE SA, is expressly prohibited.

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