International Trade Balance Widened in July

The U.S. international trade deficit expanded in July, growing 0.3% to $43.7 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. While imports slipped 0.2%, the decline was offset by exports falling 0.3%. July’s report followed a shrinking trade balance in the preceding two months. June’s trade deficit was downwardly revised slightly from $43.6 billion to $43.5 billion. 

The goods deficit decreased marginally decreased, lowering to $65.3 billion, while the services surplus fell 0.8% to $21.6 billion.

Exports of goods decreased just over $0.4 billion to $128.6 billion in July. Exports of services declined $0.1 billion to $65.8 billion.

Imports of goods decreased $0.5 billion to $193.9 billion. Imports of services remained virtually unchanged at $44.1 billion in July.

Read the Census/BEA release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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