Mumbai, July 8 -- The United States trade deficit in goods and services saw a monthly increase of $23 billion or 42.2% to $77.6 billion in May, the country's Census Bureau and Bureau of Economic Analysis (BEA) said in their report published on Tuesday.
Exports from the US declined by 3.2% or $10.5 billion month-on-month to $317.7 billion. On the other hand, imports to the country rose by 3.3% or $12.5 billion to $395.3 billion.
On an annual basis, the overall trade deficit decreased by 40.6% or $203.9 billion. Exports went up by 11.7% or $164.7 billion. Meanwhile, imports dropped by 2.1% or $39.2 billion.
Published by HT Digital Content Services with permission from Capital Market....