US trade deficit hits 14-year high, rises to $67.1 billion in August


Oil Tanker(Worthy News) – The US trade deficit rose in August to the highest level in 14 years.

The Commerce Department reported Tuesday that the gap between the goods and services the United States sells and what it buys abroad climbed 5.9 per cent in August to USD 67.1 billion, highest since August 2006.

Exports rose 2.2 per cent to USD 171.9 billion on a surge in shipments of soybeans, but imports rose more up 3.2 per cent to USD 239 billion led by purchases of crude oil, cars and auto parts. [ Source: Business Standard (Read More…) ]

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