July 13, 2010
U.S. Trade Deficit Widens
The U.S. trade deficit increased in May to $42.3 billion, up from $40.3 billion in April, with exports increasing, but not enough to keep up with imports, according to the U.S. Department of Commerce.
The export of goods rose $3 billion to $107.2 billion, while imports of goods rose $4.9 billion to $161.7 billion. Imports and exports of services each rose $0.6 billion.
The increase in exports came largely from capital goods, industrial supplies and materials and consumer goods. The imports that increased the most were consumer goods, cars and car parts and capital goods.
Over the year from May 2009 to May 2010, the trade deficit increased $17.4 billion, with exports up $26.4 billion and imports up $43.8 billion.
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