U.S. DEFICIT $50.1 BLN

U.S. BEA - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.1 billion in July, up $4.3 billion from $45.7 billion in June, revised.

Exports, Imports, and Balance

July exports were $211.1 billion, $2.1 billion less than June exports. July imports were $261.2 billion, $2.2 billion more than June imports.

The July increase in the goods and services deficit reflected an increase in the goods deficit of $4.2 billion to $73.1 billion and a decrease in the services surplus of $0.1 billion to $23.1 billion.

Year-to-date, the goods and services deficit increased $22.0 billion, or 7.0 percent, from the same period in 2017. Exports increased $115.7 billion or 8.6 percent. Imports increased $137.7 billion or 8.3 percent.

Three-Month Moving Averages

The average goods and services deficit increased $1.5 billion to $46.1 billion for the three months ending in July.

• Average exports increased $0.2 billion to $213.0 billion in July.
• Average imports increased $1.7 billion to $259.1 billion in July.

Year-over-year, the average goods and services deficit increased $1.2 billion from the three months ending in July 2017.

• Average exports increased $18.7 billion from July 2017.
• Average imports increased $19.9 billion from July 2017.

Exports

Exports of goods decreased $2.3 billion to $140.8 billion in July.

Exports of goods on a Census basis decreased $2.3 billion.

• Capital goods decreased $0.9 billion.
• Civilian aircraft decreased $1.6 billion.
• Foods, feeds, and beverages decreased $0.9 billion.
• Soybeans decreased $0.7 billion.
• Other goods decreased $0.5 billion.

Net balance of payments adjustments decreased less than $0.1 billion.

Exports of services increased $0.2 billion to $70.3 billion in July.

• Charges for the use of intellectual property increased $0.1 billion.
• Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $0.1 billion.

Imports

Imports of goods increased $1.9 billion to $213.9 billion in July.

Imports of goods on a Census basis increased $1.8 billion.

• Capital goods increased $0.7 billion.
• Computers increased $0.5 billion.
• Computer accessories increased $0.3 billion.
• Other goods increased $0.7 billion.
• Industrial supplies and materials increased $0.5 billion.
• Fuel oil increased $0.3 billion.
• Crude oil increased $0.3 billion.
• Automotive vehicles, parts, and engines increased $0.5 billion.
• Consumer goods decreased $0.8 billion.
• Pharmaceutical preparations decreased $1.3 billion.

Net balance of payments adjustments increased less than $0.1 billion.

Imports of services increased $0.3 billion to $47.2 billion in July.

• Travel (for all purposes including education) increased $0.2 billion.
• Other business services increased $0.1 billion.

Real Goods in 2012 Dollars – Census Basis

The real goods deficit increased $3.1 billion to $82.5 billion in July.

• Real exports of goods decreased $1.5 billion to $149.6 billion.
• Real imports of goods increased $1.6 billion to $232.0 billion.

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