U.S. Trade Deficit Rises Less Than Expected as Exports Hit Record High

The United States trade deficit increased in the latest reporting period, though the growth was slower than economists had anticipated. Exports reached a record high of $314.8 billion, representing a 4.2 percent increase, driven primarily by higher shipments of gold and natural gas. However, imports grew at an even faster pace, contributing to the overall widening of the trade gap between what America sells abroad and what it purchases from other countries.