The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $54.0 billion in July, down $1.5 billion from $55.5 billion in June, revised.
July exports were $207.4 billion, $1.2 billion more than June exports. July imports were $261.4 billion, $0.4 billion less than June imports. The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $1.6 billion to $73.7 billion and a decrease in the services surplus of $0.1 billion to $19.7 billion.
Year-to-date, the goods and services deficit increased $28.2 billion, or 8.2 percent, from the same period in 2018. Exports decreased $3.4 billion or 0.2 percent. Imports increased $24.9 billion or 1.4 percent.
The July figures show surpluses, in billions of dollars, with South and Central America ($3.7), Hong Kong ($2.4), Brazil ($0.7), United Kingdom ($0.3), OPEC ($0.3), and Singapore ($0.1).
Deficits were recorded, in billions of dollars, with China ($29.6), European Union ($15.9), Mexico ($8.9), Germany ($6.2), Japan ($5.9), Italy ($3.1), Canada ($3.1), India ($2.1), Taiwan ($2.0), France ($1.9), South Korea ($1.5), and Saudi Arabia (less than $0.1).