In July, the goods deficit decreased $0.2 billion from June to $57.3 billion, and the services surplus decreased $0.3 billion from June to $15.3 billion. Exports of goods decreased $1.9 billion to $130.8 billion, and imports of goods decreased $2.1 billion to $188.1 billion. Exports of services were virtually unchanged at $52.5 billion, and imports of services increased $0.3 billion to $37.2 billion.
The goods and services deficit decreased $3.6 billion from July 2011 to July 2012. Exports were up $4.9 billion, or 2.8 percent, and imports were up $1.4 billion, or 0.6 percent.
The June to July decrease in exports of goods reflected decreases in industrial supplies and materials ($2.4 billion); automotive vehicles, parts, and engines ($0.6 billion); other goods ($0.6 billion); and consumer goods ($0.4 billion). Increases occurred in foods, feeds, and beverages ($1.8 billion) and capital goods ($0.1 billion).
The June to July decrease in imports of goods reflected decreases in industrial supplies and materials ($2.1 billion); capital goods ($0.6 billion); and other goods ($0.4 billion). Increases occurred in automotive vehicles, parts, and engines ($0.5 billion); consumer goods ($0.4 billion); and foods, feeds, and beverages ($0.1 billion).