The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $70.6 billion in July, down $10.2 billion from $80.9 billion in June, revised.
The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $8.2 billion to $91.1 billion and an increase in the services surplus of $2.1 billion to $20.4 billion.
July exports were $259.3 billion, $0.5 billion more than June exports. July imports were $329.9 billion, $9.7 billion less than June imports.
The average goods and services deficit decreased $5.4 billion to $79.1 billion for the three months ending in July. Year-over-year, the average goods and services deficit increased $10.0 billion from the three months ending in July 2021.
Read the Census/BEA release.