The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $43.7 billion in July, up $0.1 billion from $43.5 billion in June, revised. July exports were $194.4 billion, $0.6 billion less than June exports. July imports were $238.1 billion, $0.4 billion less than June imports.

The July increase in the goods and services deficit reflected a decrease in the goods deficit of less than $0.1 billion to $65.3 billion and a decrease in the services surplus of $0.2 billion to $21.6 billion.

Exports (Exhibits 3, 6, and 7 in the FT-900)

Exports of goods decreased $0.4 billion to $128.6 billion in July.

Exports of goods on a Census basis decreased $0.4 billion to $128.6 billion.

• Consumer goods decreased $0.7 billion.
  • Cell phones and other household goods decreased $0.5 billion.
• Automotive vehicles, parts, and engines decreased $0.6 billion.
  • Passenger cars decreased $1.0 billion.
• Capital goods increased $0.9 billion.
  • Civilian aircraft increased $1.1 billion.

Exports of services decreased $0.1 billion to $65.8 billion in July.

• Travel (for all purposes including education) decreased $0.3 billion.
• Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $0.2 billion

Imports (Exhibits 4, 6, and 8 in the FT-900)

Imports of goods decreased $0.5 billion to $193.9 billion in July.

Imports of goods on a Census basis decreased $0.4 billion.

• Automotive vehicles, parts, and engines decreased $0.8 billion.
  • Passenger cars decreased $0.8 billion.
• Industrial supplies and materials decreased $0.7 billion.
  • Crude oil decreased $1.0 billion.
• Capital goods increased $1.3 billion.
  • Computer accessories increased $0.6 billion.
  • Computers increased $0.6 billion.

Imports of services increased less than $0.1 billion to $44.1 billion in July. The changes in all categories were $0.1 billion or less and nearly offsetting.

Goods by Selected Countries and Areas: Census Basis (Exhibit 19)

The July figures show surpluses, in billions of dollars, with South and Central America ($3.5), Hong Kong ($2.8), Brazil ($0.8), Saudi Arabia ($0.8), and Singapore ($0.7). Deficits were recorded, in billions of dollars, with China ($31.8), European Union ($12.1), Japan ($5.5), Mexico ($5.4), Germany ($5.3), Italy ($2.4), India ($1.9), Taiwan ($1.9), South Korea ($1.8), France ($1.3), Canada ($0.9), United Kingdom ($0.2), and OPEC ($0.1).

•  The surplus with South and Central America increased $0.9 billion to $3.5 billion in July. Exports increased $1.0 billion to $12.9 billion and imports increased $0.1 billion to $9.4 billion.
• The balance with Saudi Arabia shifted from a deficit of less than $0.1 billion to a surplus of $0.8 billion in July. Exports increased $0.4 billion to $1.9 billion and imports decreased $0.4 billion to $1.2 billion.