United States: Trade deficit rises to record high 11/04/21

Washington (dpa-AFX) – The US foreign trade deficit hit an all-time high in September. The deficit widened to $ 80.9 billion from $ 72.8 billion, the Commerce Department announced in Washington on Thursday. Analysts expected the average deficit to be $ 80.2 billion.

The fall in exports was the main reason for the high deficit. These fell 3.0 percent. Meanwhile, imports increased by 0.6 per cent. Growth can be explained by the improved recovery of the US economy from the epidemic. It supports imports while making exports harder.

The US trade deficit is long overdue. Imports are consistently higher than exports. The United States is a common net importer. You are financing the deficit with foreign loans. The US capital markets are attractive because the United States holds the world’s leading currency in dollar terms.

The largest foreign lenders in the United States are China and Japan. Except for the US Federal Reserve Fed./jsl/bgf/stk – they hold the largest stakes in US treasuries.