The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Wednesday, September 5, 2018 Services: Jeannine Aversa, (301) 278-9003 Goods: Mala Kline, (301) 763-2311 July 2018 Trade Gap is $50.1 Billion U.S. international trade in goods and services The U.S. monthly international trade deficit increased in July 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $45.7 billion in June (revised) to $50.1 billion in July, as exports decreased and imports increased. The previously published June deficit was $46.3 billion. The goods deficit increased $4.2 billion in July to $73.1 billion. The services surplus decreased $0.1 billion in July to $23.1 billion. Exports Exports of goods and services decreased $2.1 billion, or 1.0 percent, in July to $211.1 billion. Exports of goods decreased $2.3 billion and exports of services increased $0.2 billion. • The decrease in exports of goods mostly reflected decreases in capital goods ($0.9 billion); in foods, feeds, and beverages ($0.9 billion); and in other goods ($0.5 billion). • The increase in exports of services mostly reflected increases in charges for the use of intellectual property ($0.1 billion) and in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services. Imports Imports of goods and services increased $2.2 billion, or 0.9 percent, in July to $261.2 billion. Imports of goods increased $1.9 billion and imports of services increased $0.3 billion. • The increase in imports of goods mostly reflected increases in capital goods ($0.7 billion); in other goods ($0.7 billion); in industrial supplies and materials ($0.5 billion); and in automotive vehicles, parts, and engines ($0.5 billion). A decrease in consumer goods ($0.8 billion) partly offset the increases. • The increase in imports of services mostly reflected increases in travel (for all purposes including education) ($0.2 billion) and in other business services ($0.1 billion). For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services: July 2018. BEA statistics—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the September 5 news release, U.S. International Trade in Goods and Services: July 2018, issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The next release is October 5, 2018.
@FedFRASER