The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $70.1 billion in July, down $3.2 billion from $73.2 billion in June, revised.
July exports were $212.8 billion, $2.8 billion more than June exports. July imports were $282.9 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 $5.5 billion to $87.7 billion and a decrease in the services surplus of $2.4 billion to $17.7 billion.
Year-to-date, the goods and services deficit increased $131.0 billion, or 37.1 percent, from the same period in 2020. Exports increased $205.0 billion or 16.8 percent. Imports increased $336.0 billion or 21.3 percent.
The July figures show surpluses, in billions of dollars, with South and Central America ($5.2), Hong Kong ($2.3), Brazil ($1.4), Singapore ($1.3), and United Kingdom ($0.3).
Deficits were recorded, in billions of dollars, with China ($25.0), European Union ($18.1), Mexico ($8.5), Japan ($6.0), Germany ($5.6), Canada ($3.6), Italy ($3.5), Taiwan ($3.4), India ($2.8), South Korea ($2.1), France ($2.1), and Saudi Arabia ($0.3).