International Trade Gap Widened 9.5 percent in July

The U.S. international trade deficit widened in July, rising 9.5 percent to $50.1 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Imports rose 0.9 percent, while exports fell 1.0 percent. June’s trade deficit was downwardly revised from $46.3 billion to $45.7 billion.

The goods deficit increased 6.1 percent to $73.1 billion, while the services surplus was virtually unchanged at $23.1 billion.

Exports of goods decreased 1.6 percent to $140.8 billion in July. Exports of services were virtually unchanged at $70.3 billion.

Imports of goods increased 0.9 percent to $213.9 billion. Imports of services rose 0.7 percent to $47.2 billion.

Read the Census/BEA release.

About Jack McCabe

Jack McCabe is a research associate in the Economic Policy and Research group at the ABA.
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