Research >> Economics
Goods and Services Deficit Decreased in July 2010
The Nation’s international trade deficit in goods and services decreased to $42.8 billion in July from $49.8 billion (revised) in June, as exports increased and imports decreased.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total July exports of $153.3 billion and imports of $196.1 billion resulted in a goods and services deficit of $42.8 billion, down from $49.8 billion in June, revised. July exports were $2.8 billion more than June exports of $150.6 billion. July imports were $4.2 billion less than June imports of $200.3 billion.
In July, the goods deficit decreased $7.0 billion from June to $55.2 billion, and the services surplus was virtually unchanged at $12.5 billion. Exports of goods increased $2.8 billion to $107.7 billion, and imports of goods decreased $4.2 billion to $162.9 billion. Exports of services were virtually unchanged at $45.6 billion, and imports of services were virtually unchanged at $33.2 billion.
The goods and services deficit increased $9.7 billion from July 2009 to July 2010. Exports were up $23.7 billion, or 18.3 percent, and imports were up $33.4 billion, or 20.5 percent.
Posted: September 9, 2010 Thursday 08:30 AM