Research >> Economics
Goods and Services Deficit Decreased in July 2022
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The nation's international trade deficit in goods and services decreased to $70.6 billion in July from $80.9 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 $70.6 billion in July, down $10.2 billion from $80.9 billion in June, revised.
Exports, Imports, and Balance
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 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. Year-to-date, the goods and services deficit increased $136.6 billion, or 29.0 percent, from the same period in 2021. Exports increased $286.4 billion or 19.9 percent. Imports increased $423.0 billion or 22.1 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $5.4 billion to $79.1 billion for the three months ending in July.
• Average exports increased $2.5 billion to $257.5 billion in July.
• Average imports decreased $2.9 billion to $336.7 billion in July.
Year-over-year, the average goods and services deficit increased $10.0 billion from the three months ending in July 2021.
• Average exports increased $45.3 billion from July 2021.
• Average imports increased $55.3 billion from July 2021.
Posted: September 7, 2022 Wednesday 08:30 AM