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The Goods and Services Deficit Increased to $50.1 in July 2018

Wed Sep 05 2018
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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 $50.1 billion in July, up $4.3 billion from $45.7 billion in June, revised.

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Exports, Imports, and Balance (Exhibit 1)

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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.

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Exports (Exhibits 3, 6, and 7)

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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.


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.

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Imports (Exhibits 4, 6, and 8)

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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.


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.

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

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The July figures show surpluses, in billions of dollars, with South and Central America ($3.4), Hong Kong ($2.5), Brazil ($0.6), United Kingdom ($0.4), and Singapore ($0.2). Deficits were recorded, in billions of dollars, with China ($34.1), European Union ($14.5), Mexico ($6.4), Germany ($6.2), Japan ($4.9), Canada ($3.2), OPEC ($3.0), Italy ($2.7), India ($1.6), France ($1.4), South Korea ($1.3), Taiwan ($1.0), and Saudi Arabia ($1.0).

  • The deficit with the European Union increased $1.7 billion to $14.5 billion in July. Exports decreased $1.2 billion to $26.0 billion and imports increased $0.5 billion to $40.5 billion.
  • The deficit with China increased $1.7 billion to $34.1 billion in July. Exports decreased $1.0 billion to $11.0 billion and imports increased $0.7 billion to $45.2 billion.
  • The deficit with Japan decreased $0.7 billion to $4.9 billion in July. Exports increased $0.5 billion to $6.6 billion and imports decreased $0.2 billion to $11.5 billion.

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