US trade deficit widens in June, mostly with EU

By Ovunc Kutlu

ANKARA (AA) - The US' goods and services trade deficit increased to $75.7 billion in June, according to figures released Thursday by the Commerce Department.

It represents a rise of nearly $4.8 billion, or around 6.7%, from $71 billion in May that was revised from $71.2 billion, the agency’s Bureau of Economic Analysis said in a statement.

While exports in June rose 0.6% to approximately $207.7 billion from the previous month, imports increased much faster -- 2.1% to around $283.4 billion.

"The June increase in the goods and services deficit reflected an increase in the goods deficit of $4.0 billion to $93.2 billion and a decrease in the services surplus of $0.7 billion to $17.4 billion," the statement said.

The trade deficit with the EU increased $1.1 billion to $19.6 billion in June, as exports rose $0.6 billion to $22.6 billion but imports jumped $1.7 billion to $42.2 billion.

The trade deficit with India increased $1 billion to $3.5 billion last month.

The deficit with Japan, on the other hand, decreased $0.9 billion to $4.9 billion.