Research >> Economics
Goods and Services Deficit Decreased in July 2019
The nation's international trade deficit in goods and services decreased to $54.0 billion in July from $55.5 billion in June (revised), as exports increased and imports decreased. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $54.0 billion in July, down $1.5 billion from $55.5 billion in June, revised.
Exports, Imports, and Balance
July exports were $207.4 billion, $1.2 billion more than June exports. July imports were $261.4 billion, $0.4 billion less than June imports. The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $1.6 billion to $73.7 billion and a decrease in the services surplus of $0.1 billion to $19.7 billion. Year-to-date, the goods and services deficit increased $28.2 billion, or 8.2 percent, from the same period in 2018. Exports decreased $3.4 billion or 0.2 percent. Imports increased $24.9 billion or 1.4 percent.
Three-Month Moving Averages
The average goods and services deficit increased $0.7 billion to $55.1 billion for the three months ending in July.
- Average exports increased $0.5 billion to $208.0 billion in July.
- Average imports increased $1.2 billion to $263.1 billion in July.
Year-over-year, the average goods and services deficit increased $7.0 billion from the three months ending in July 2018.
- Average exports decreased $3.0 billion from July 2018.
- Average imports increased $4.0 billion from July 2018.
Posted: September 4, 2019 Wednesday 08:30 AM