Washington: The US goods trade deficit experienced a significant rise of 11.1% from the previous month, reaching $96.6 billion in May, based on data released Thursday.

According to Anadolu Agency, the Commerce Department reported that the deficit surpassed market expectations, which had anticipated a figure of $86.3 billion. The deficit stood at $87 billion in April.

In May, the data indicated that goods exports decreased by $9.7 billion, totaling $179.2 billion, while imports remained relatively stable at $275.8 billion.

Additionally, the value of wholesale inventories saw a month-on-month decrease of 0.3%, dropping to $905.4 billion. On the other hand, the value of retail inventories rose by 0.3%, reaching $806.6 billion.