U.S. Trade Deficit Narrows in July


The U.S. Department of Commerce, announced on September 9, that total July exports of $178.0 billion and imports of $222.8 billion resulted in a goods and services deficit of $44.8 billion, down from $51.6 billion in June, revised.

July exports were $6.2 billion more than June exports of $171.8 billion.  July imports were $0.5 billion less than June imports of $223.4 billion.

In July, the goods deficit decreased $6.4 billion from June to $60.6 billion, and the services surplus increased $0.4 billion to $15.8 billion.  Exports of goods increased $5.7 billion to $126.9 billion, and imports of goods decreased $0.7 billion to $187.5 billion.  Exports of services increased $0.5 billion to $51.1 billion, and imports of services increased $0.1 billion to $35.3 billion.

The goods and services deficit increased $3.2 billion from July 2010 to July 2011.  Exports were up $23.4 billion, or 15.1 percent, and imports were up $26.6 billion, or 13.6 percent.

The June to July increase in exports of goods reflected increases in industrial supplies and materials ($2.7 billion); capital goods ($2.2 billion); automotive vehicles, parts, and engines ($1.3 billion); and other goods ($0.2 billion).  A decrease occurred in consumer goods ($0.6 billion). Foods, feeds, and beverages were virtually unchanged.

The June to July decrease in imports of goods reflected decreases in industrial supplies and materials ($2.5 billion); other goods ($1.0 billion); and foods, feeds, and beverages ($0.3 billion). Increases occurred in automotive vehicles, parts, and engines ($2.9 billion); capital goods ($0.3 billion); and consumer goods ($0.1 billion).

The July 2010 to July 2011 increase in exports of goods reflected increases in industrial supplies and materials ($9.6 billion); capital goods ($3.4 billion); automotive vehicles, parts, and engines ($2.7 billion); foods, feeds, and beverages ($2.0 billion); and consumer goods ($0.8 billion). A decrease occurred in other goods ($0.5 billion).

The July 2010 to July 2011 increase in imports of goods reflected increases in industrial supplies and materials ($13.0 billion); capital goods ($5.6 billion); automotive vehicles, parts, and engines ($2.9 billion); consumer goods ($2.2 billion); and foods, feeds, and beverages ($1.2 billion). Other goods were virtually unchanged.

Exports of services increased $0.5 billion from June to July. The increase was mostly accounted for by increases in travel, passenger fares, and other transportation (which includes freight and port services).  A decrease in transfers under U.S. military sales contracts was partly offsetting.  Changes in the other categories of services exports were small.

Imports of services increased $0.1 billion from June to July. The increase was more than accounted for by increases in travel and passenger fares.  Changes in the other categories of services imports were small.


TradingEconomics.com, U.S. Census Bureau
9/8/2011 1:41:13 PM