The US trade deficit dramatically expanded in July, increasing by 32.5 % to $ 78.3 billion, according to a report issued by the Ministry of Trade Economic Analysis Office mentioned by Reuters. This increase was driven by a record flow of capital goods and other goods, which pushed imports sharply up, and if this trend continued, it may lead to commercial representation as a arc on the GDP of the third quarter.
Also read: The American trade deficit is dramatically expanding with increased imports
Imports increased by 5.9 % to 358.8 billion dollars, with goods increased by 6.9 % to $ 283.3 billion. A significant increase of $ 12.5 billion in supplies and industrial materials, due significantly to an increase of $ 9.6 billion in non -cash gold, in this growth. Data from the Indexbox platform also shows fluctuations in import categories. Standard capital imports recorded $ 96.2 billion, driven by computers and industrial machines, while car imports and pharmaceutical preparations decreased. Petroleum imports have decreased to their lowest level since April 2021.
Exports witnessed minimal growth, with only 0.3 % increased to $ 280.5 billion. A record number of $ 59.9 billion in capital goods exports was compensated, with the support of civil aircraft and computer accessories, a significant decrease of $ 1.5 billion in exporting drilling machines. The commercial deficit of goods with China expanded with $ 5.3 billion to 14.7 billion dollars, which contributes to the total merchandise gap of $ 103.9 billion. The commercial policies of President Donald Trump, including definitions, have been martyred that pushed the average tariff rate in the country to its highest levels since 1934, as a reason for these major fluctuations in commercial flows.
This commercial dynamics had a profound impact on the gross domestic product, which grew at an annual rate of 3.3 % in the second quarter after the trade contributed to the record 4.95 percentage points, which is a sharp reflection of a percentage of 4.61 in the first quarter.
Source: Indexbox Market Intelligence
