Exports of goods from the USA increased
U.S. Exporters Conclude First Half of the Year with Growth. In June, exports of goods and services increased by 1.5 percent compared to the previous month, according to the Department of Commerce in Washington on Tuesday. This follows a decline of 0.5 percent in May. Imports grew by 0.6 percent this time, after shrinking by 0.3 percent in the previous month.
The trade balance once again showed a significant deficit in June. Imports exceeded exports by $73.1 billion. This was a decrease of nearly $2 billion from May. Former U.S. President Donald Trump often interpreted this traditionally high deficit as a sign that his country was being taken advantage of by other states, leading to trade conflicts, such as with China.
Recently, unexpectedly poor job data has raised concerns about a recession in the U.S. and caused a stock market crash. Only 114,000 new jobs were created outside of agriculture in July, far below the expected 175,000. Additionally, the unemployment rate rose from 4.1 to 4.3 percent.
The current half year for U.S. exporters has demonstrated a positive growth trend, with an increase in exports in June. However, the trade deficit for the first half of the year remains substantial, as indicated by the significant disparity between exports and imports during this period.
