There is a recent update in the exports and Imports of USA . The U.S. exports took a hit from an ailing global economy and imports from China surged, fueling the largest expansion of America's trade deficit in five months.
The size of the trade gap has risen far above the average levels seen in recent years and the onus for stronger U.S. economic growth is now falling squarely on consumers.
"Trade will remain a drag on the real economy until well into next year," said Steve Murphy, an economist at Capital Economics. Sales of U.S. goods and services abroad fell 2 percent to their lowest level since October 2012. Exports to Mexico fell by $1.5 billion in August and the European Union bought $500 million less from America than it did in July, according to data on bilateral trade which is not seasonally adjusted.
The declines are partly due to expectations of higher interest rates in the United States that have pushed the value of the dollar higher, reflecting the strength of America's economy relative to its trading partners. A stronger dollar makes U.S. goods less competitive abroad.
The International Monetary Fund cut its global growth forecasts for the second time this year on Tuesday, citing weak commodity prices and a slowdown in China while warning that policies aimed at increasing demand were needed.
A 3 percent increase in U.S. imports from China also factored into the widening of the trade deficit. China's yuan currency has depreciated sharply in recent months amid concerns of a possible crash in the Chinese economy, which is the second largest in the world after America's.
The widening of the U.S. trade deficit surpassed the $47.4 billion median forecast for the deficit in a Reuters poll of economists.