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U.S. Trade Deficit Hits Record

Imports rose 1.4% in August, while exports climbed just 0.5%.

By Ana Monteiro | October 06, 2021 at 04:13 PM

The U.S. trade deficit widened to a record in August, reflecting a pickup in the value of imports of consumer goods and industrial supplies.

The gap in trade of goods and services increased 4.2 percent, to $73.3 billion, from a revised $70.3 billion in July, according to Commerce Department data released Tuesday.

The value of goods and services imports rose 1.4 percent, to a record $287 billion, in August. The U.S. imported $3 billion more in consumer goods that month, mostly due to pharmaceuticals and toys, games, and sporting goods. Exports climbed 0.5 percent to $213.7 billion.

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