Research >> Economics
Goods and Services Deficit increased in July 2023
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $65.0 billion in July, up $1.3 billion from $63.7 billion in June, revised.
Exports, Imports, and Balance
July exports were $251.7 billion, $3.9 billion more than June exports. July imports were $316.7 billion, $5.2 billion more than June imports. The July increase in the goods and services deficit reflected an increase in the goods deficit of $2.0 billion to $90.0 billion and an increase in the services surplus of $0.7 billion to $25.0 billion. Year-to-date, the goods and services deficit decreased $128.3 billion, or 21.4 percent, from the same period in 2022. Exports increased $27.3 billion or 1.6 percent. Imports decreased $101.0 billion or 4.3 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $2.7 billion to $65.2 billion for the three months ending in July.
• Average exports increased $0.8 billion to $249.1 billion in July.
• Average imports decreased $1.9 billion to $314.3 billion in July.
Year-over-year, the average goods and services deficit decreased $13.7 billion from the three months ending in July 2022.
• Average exports decreased $9.0 billion from July 2022.
• Average imports decreased $22.7 billion from July 2022.
Posted: September 6, 2023 Wednesday 07:00 AM