9 Sep 2011

Record exports by US in July

7:51 am on 9 September 2011

US exports hit a record high in July, pushing the country's trade deficit down to its lowest level in three months.

The Commerce Department said exports from the United States rose 3.8% to $178 billion led by strong sales of manufactured goods.

At the same time, imports fell 0.2% to $US222.8 billion, helped by a fall in the price of oil. The trade gap fell 13.1% to $US44.8 billion.

The BBC reports the rise in exports was led by record shipments to countries in Central and South America.

However, the US trade gap with China widened 1.1% to $US27 billion, the largest imbalance since September 2010.