The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $65.0 billion in July, up $1.3 billion from $63.7 billion in June, revised.
July exports were $251.7 billion, $3.9 billion more than June exports. July imports were $316.7 billion, $5.2 billion more than June imports. The July increase in the goods and services deficit reflected an increase in the goods deficit of $2.0 billion to $90.0 billion and an increase in the services surplus of $0.7 billion to $25.0 billion.
Year-to-date, the goods and services deficit decreased $128.3 billion, or 21.4 percent, from the same period in 2022. Exports increased $27.3 billion or 1.6 percent. Imports decreased $101.0 billion or 4.3 percent.
The July figures show surpluses, in billions of dollars, with Netherlands ($4.5), South and Central America ($4.1), Hong Kong ($1.5), Belgium ($1.5), Australia ($1.5), United Kingdom ($0.5), Brazil ($0.3), and Singapore ($0.2).
Deficits were recorded, in billions of dollars, with China ($24.0), European Union ($17.3), Mexico ($12.8), Vietnam ($9.3), Germany ($7.2), Ireland ($6.5), Japan ($5.9), South Korea ($5.3), Italy ($4.1), Canada ($4.0), Taiwan ($3.9), India ($3.0), Malaysia ($2.4), Switzerland ($1.9), Israel ($0.8), France ($0.4), and Saudi Arabia ($0.2).