US trade deficit widens again in June

America's shortfall on trade with the rest of the world widened in June, on the back of a big drop in goods exports.

According to the Department of Commerce, the trade deficit in goods and services increased from -$54.5bn for May to -$55.2bn in June.

In month-on-month terms, exports weakened by 2.1% to reach $206.3bn, hit by lower sales of gem diamonds, pharmaceutical preparations and computer accessories.

Imports meanwhile fell by 1.7% on the month to reach $261.5bn, amid fewer purchases of crude oil and other petroleum products, and of cell phones and other household goods.

Over the first half of 2019, the deficit on trade in goods and services increased by 7.9% versus a year ago, Commerce said, as exports rose by less than 0.1% but imports grew by 1.5%.

The largest bi-lateral trade deficits were recorded with China ($30.2bn), European Union ($15.9bn), Mexico ($9.2bn), Japan ($6.2bn), Germany ($5.2bn), and Canada ($3.3bn).