WASHINGTON - The U.S. trade deficit grew in August, rising a greater-than-expected $3.7 billion to $46.3 billion, the Commerce Department reported Thursday.
Meanwhile, the trade deficit with China rose to a record $28.0 billion as imports totaled $35.3 billion, the highest level on record. The previous record deficit with China was $27.9 billion in Oct. 2008.
While overall August exports of goods and services totaled $153.9 billion, reflecting a $340 million increase from July, imports totaled $200.2 billion, an increase of $4.1 billion from the previous month.
August’s $46.3 billion deficit was the largest since October 2008’s $59.4 billion deficit.
Economists expected the August trade deficit would rise to $44.0 billion, according to the median estimate from Thomson Reuters.
Meanwhile, the July trade deficit was revised slightly lower to $42.6 billion from an originally reported $42.8 billion.
August exports of industrial supplies increased to $33.0 billion and were the highest since August 2008 when they reached $36.8 billion. Non-petroleum exports increased to $101.0 billion and were the highest since September 2008, when they reached $101.7 billion.
Meanwhile, imports of foods, feeds and beverages were $7.8 billion in August, the highest on record, while imports of capital goods -- $38.6 billion – were the highest since July 2008’s $39.0 billion.
