Trade Deficit Up As Oil Imports Hit High

By Daniela Deane
Washington Post Staff Writer
Friday, August 12, 2005; 9:48 AM

America's trade gap widened sharply in June as ever-galloping oil prices pushed petroleum imports to an all-time high.

The Commerce Department reported that the trade deficit -- the gap between what America sells abroad and what it buys -- grew more than expected in June to $58.8 billion, a jump of 6.1 percent over May. So far this year, the trade gap is running at a yearly rate of $686 billion -- 11 percent higher than last year's all-time record.