July 2015 Trade Gap is $41.9 Billion

The U.S. monthly international trade deficit decreased in July 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $45.2 billion in June (revised) to $41.9 billion in July, as exports increased and imports decreased. The previously published June deficit was $43.8 billion. The goods deficit decreased $3.4 billion from June to $61.4 billion in July. The services surplus decreased less than $0.1 billion from June to $19.6 billion in July.

balance on goods and services sept3

Exports
Exports of goods and services increased $0.8 billion, or 0.4 percent, in July to $188.5 billion. Exports of goods increased $0.6 billion and exports of services increased $0.2 billion.

  • The increase in exports of goods mainly reflected increases in automotive vehicles, parts and engines ($0.6 billion) and in industrial supplies and materials ($0.3 billion). A decrease in consumer goods ($0.4 billion) was partly offsetting.
  • The increase in exports of services mainly reflected increases in financial services ($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 decreased $2.5 billion, or 1.1 percent, in July to $230.4 billion. Imports of goods decreased $2.7 billion and imports of services increased $0.2 billion.

  • The decrease in imports of goods mainly reflected a decrease in consumer goods ($2.6 billion).
  • The increase in imports of services mainly reflected increases in travel (for all purposes including education) ($0.1 billion) and in transport ($0.1 billion), which includes freight and port services and passenger fares.

Goods by geographic area (seasonally adjusted, Census basis)

  • The deficit with Mexico decreased from $5.4 billion in June 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 from $13.9 billion in June to $12.4 billion in July. Exports increased $0.5 billion to $22.4 billion and imports decreased $1.0 billion to $34.8 billion.
  • The surplus with South and Central America decreased from $3.5 billion in June to $2.6 billion in July. Exports decreased $1.2 billion to $12.3 billion and imports decreased $0.3 billion to $9.7 billion.

For more information, read the full report.


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