By Aysu Bicer
ANKARA (AA) -The US trade deficit narrowed to $67.4 billion in August, the lowest since May 2021, marking a decrease in the value of imports, Commerce Department data showed Wednesday.
The figure was slightly below a market consensus of a $67.7 billion gap and down by $3.1 billion from $70.5 billion in July.
Imports fell 1.1% to $326.3 billion, driven by falls in crude and fuel oil, semiconductors, civilian aircrafts, and computers, while exports eased at a much slower 0.3% to $258.9 billion, with main decreases seen for non-monetary gold, crude oil, passenger cars and travel.
Meanwhile, the US merchandise-trade deficit with China rose to $37.4 billion, the biggest shortfall since November 2018, fueled by a rise in imports in the period.