The US Department of Commerce reported Thursday that the US' trade deficit reached its highest level since October 2008 in June, and rose 4.4 percent to $53.1 billion from $50.8 in May.
June exports declined the most since January 2009 to $170.9 billion, $4.1 billion less than May exports of $175 billion. Imports were $223.9 billion in June, $1.9 billion less than May imports. The goods and services deficit increased $6.2 billion from June 2010 to June 2011. Exports were up $19.5 billion, or 12.9 percent, and imports were up $25.7 billion, or 13 percent.
As for Canada, Statistics Canada reported Thursday that the trade deficit reached the highest level in nine months in June due to a decline in energy and automotive exports. Canada's trade deficit with the world was C$1.56 billion (US$1.57 billion) in June compared to a C$1.04 billion (US$1.05 billion) gap in May. Exports fell 1.7 percent to C$36.5 billion ($36.9 billion) in June while imports fell 0.2 percent to C$38 billion (US$38.4 billion).