US International Trade, Services and Goods July 2015

















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 $41.9 billion in July, down $3.3 billion from $45.2 billion in June, revised. July exports were $188.5 billion, $0.8billion more than June exports. July imports were $230.4 billion, $2.5 billion less than June imports. The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $3.4 billion to $61.4 billion and a decrease in the services surplus ofless than $0.1 billion to $19.6 billion. Year-to-date, the goods and services deficit increased $10.6 billion, or 3.6 percent, from the same period in 2014. Exports decreased $47.0 billion or 3.5 percent. Imports decreased $36.4 billion or 2.2 percent. Goods and Services Three-Month Moving Averages (Exhibit 2) The average goods and services deficit decreased $0.1 billion to $43.2 billion for the three months ending in July. • Average exports of goods and services decreased $0.2 billion to $188.0 billion in July. • Average imports of goods and services decreased $0.3 billion to $231.2 billion in July. Year-over-year, the average goods and services deficit increased $1.3 billion fromthe three months ending in July 2014. • Average exports of goods and services decreased $8.6 billion from July 2014. • Average imports of goods and services decreased $7.3 billion from July 2014. NOTE: For definitions of goods on a balance of payments basis, goods on a Census basis, and net balance of payments adjustments, see the information section on page A-1 of this release. Exports (Exhibits 3, 6, and 7) Exports of goods increased $0.6 billion to $128.2 billion in July. Exports of goods on a Census basisincreased $1.0 billion. • Automotive vehicles, parts, and engines increased $0.6 billion. • Industrial supplies and materials increased $0.3 billion. o Nonmonetary gold increased $0.3 billion. • Consumer goods decreased $0.4 billion. Net balance of payments adjustments decreased $0.4 billion. Exports of services increased $0.2 billion to $60.3 billion in July. • Financial services 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 (Exhibits 4, 6, and 8) Imports of goods decreased $2.7 billion to $189.6 billion in July. Imports of goods on a Census basis decreased $2.1 billion. • Consumer goods decreased $2.6 billion. o Pharmaceutical preparations decreased $1.5 billion. o Cell phones and other household goods decreased $1.3 billion Net balance of payments adjustments decreased $0.6 billion. Imports of services increased $0.2 billion to $40.8 billion in July. • Travel (for all purposes including education) increased $0.1 billion. • Transport, which includes freight and port services and passenger fares, increased $0.1 billion. Real Goods in 2009 Dollars – Census Basis (Exhibit 11) The real goods deficit decreased $2.8 billion to $56.2 billion in July. • Real exports of goods increased $1.1 billion to $120.7 billion. • Real imports of goods decreased $1.7 billion to $176.9 billion. Revisions Exports and imports of goods and services were revised for January through June 2015 to incorporate more comprehensive and updated quarterly and monthly data and a temporary balance of payments adjustment for low-value imports (see Notice). Revisions to June exports • Exports of goods were revised downward less than $0.1 billion. • Exports of services were revised downward $0.9 billion. Revisions to June imports • Imports of goods were revised upward $1.3 billion. • Imports of services were revised downward $0.8 billion. Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19) The July figures show surpluses, in billions of dollars, with South and Central America ($2.6), OPEC ($0.7), United Kingdom ($0.3), and Brazil ($0.2). Deficits were recorded, in billions of dollars, with China ($28.8), European Union ($12.4), Germany ($6.0), Japan ($5.4), Mexico ($3.8), Italy ($2.3), South Korea ($2.2), Canada ($2.1), India ($2.0), France ($1.1), and Saudi Arabia ($0.5). • The deficit with Mexico decreased $1.6 billion to $3.8 billion in July. Exports increased $0.7 billion to $20.7 billion and imports decreased $0.9 billion to $24.5 billion. • The deficit with the European Union decreased $1.4 billion to $12.4 billion in July. Exports increased $0.5 billion to $22.4 billion and imports decreased $1.0billion to $34.8 billion. Goods and Services by Selected Countries and Areas: Quarterly – Balance of Payments Basis (Exhibit 20) The second quarter figures show surpluses, in billions of dollars, with South and Central America ($17.3), Brazil ($7.3), OPEC ($6.8), Canada ($1.8), United Kingdom ($1.3), and Saudi Arabia ($0.8). Deficits were recorded, in billions of dollars, with China ($79.6), European Union ($28.5), Germany ($19.6), Japan ($14.2), Mexico ($13.6), Italy ($7.8), India ($7.2), France ($4.2), and South Korea ($4.1). • The deficit with China decreased $10.4 billion to $79.6 billion in the second quarter. Exports increased $2.7 billion to $42.5 billion and imports decreased $7.6 billion to $122.0 billion. • The deficit with South Korea decreased $1.1 billion to $4.1 billion in the second quarter. Exports increased $0.9 billion to $17.1 billion and imports decreased $0.1 billion to $21.1 billion.

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