US Trade Deficit Widens in July


In July of 2013, US trade deficit increased to 39.2 billion USD, from a 3-1/2-year low in June, as exports dipped 0.6 percent and imports rose 1.6 percent.

In July, the goods deficit increased $4.5 billion from June to $58.6 billion, and the services surplus decreased $0.1 billion from June to $19.4 billion. Exports of goods decreased $1.1 billion to $132.7 billion, and imports of goods increased $3.4 billion to $191.3 billion. Exports of services were virtually unchanged at $56.7 billion, and imports of services increased $0.1 billion to $37.3 billion.

The June to July decrease in exports of goods reflected decreases in capital goods ($1.6 billion); consumer goods ($1.4 billion); other goods ($0.3 billion); and automotive vehicles, parts, and engines ($0.2 billion). Increases occurred in industrial supplies and materials ($1.7 billion) and foods, feeds, and beverages ($0.4 billion).

The June to July increase in imports of goods reflected increases in industrial supplies and materials ($2.0 billion); automotive vehicles, parts, and engines ($0.8 billion); consumer goods ($0.7 billion); other goods ($0.3 billion); and foods, feeds, and beverages ($0.1 billion). A decrease occurred in capital goods ($0.3 billion).

The July figures show surpluses, in billions of dollars, with Hong Kong $2.9 ($3.4 for June), Brazil $1.7 ($1.6), Australia $1.5 ($1.7), and Singapore $0.6 ($1.2). Deficits were recorded, in billions of dollars, with China $30.1 ($26.6), European Union $13.9 ($7.1), OPEC $7.4 ($5.8), Japan $6.8 ($5.5), Germany $6.4 ($4.9), Mexico $4.1 ($4.8), Saudi Arabia $3.3 ($3.0), Canada $2.8 ($1.8), Venezuela $2.3 ($1.2), Ireland $2.3 ($1.4), Korea $2.2 ($1.6), and India $2.1 ($1.0).

US Trade Deficit Widens in July


U.S. Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com
9/4/2013 1:48:02 PM