The 2020 Mid-Year Economic Update_long

July U.S. Exports Decrease, Imports Increase

Goods and services deficit up year-over-year.

The U.S. goods and services deficit was $50.1 billion in July, as exports decreased and imports increased, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce. The previously published June deficit was $46.3 billion. The goods deficit increased $4.2 billion in July to $73.1 billion. The services surplus decreased $0.1 billion in July to $23.1 billion.

Year-to-date, the goods and services deficit increased $22.0 billion, or 7 percent, from the same period in 2017. Exports increased $115.7 billion or 8.6 percent. Imports increased $137.7 billion or 8.3 percent.

Year-over-year, the average goods and services deficit increased $1.2 billion from the three months ending in July 2017.

Imports of goods increased $1.9 billion to $213.9 billion in July and imports of services increased $0.3 billion to $47.2 billion.

Exports of goods decreased $2.3 billion to $140.8 billion in July and exports of services increased $0.2 billion to $70.3 billion.

 

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