The U.S. monthly international trade deficit decreased in July 2019, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $55.5 billion in June (revised) to $54.0 billion in July, as exports increased and imports decreased. The previously published June deficit was $55.2 billion. The goods deficit decreased $1.6 billion in July to $73.7 billion. The services surplus decreased $0.1 billion in July to $19.7 billion.
Exports of goods and services increased $1.2 billion, or 0.6 percent, in July to $207.4 billion. Exports of goods increased $1.2 billion and exports of services decreased $0.1 billion.
- The increase in exports of goods mostly reflected increases in consumer goods ($1.5 billion), in capital goods ($0.8 billion), and in automotive vehicles, parts, and engines ($0.6 billion). A decrease in industrial supplies and materials ($1.7 billion) partly offset the increases.
- The decrease in exports of services mostly reflected decreases in transport ($0.1 billion) and in charges for the use of intellectual property ($0.1 billion). An increase in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services, partly offset the decreases.
Imports of goods and services decreased $0.4 billion, or 0.1 percent, in July to $261.4 billion. Imports of goods decreased $0.4 billion and imports of services increased $0.1 billion.
- The decrease in imports of goods mostly reflected a decrease in capital goods ($1.5 billion). An increase in industrial supplies and materials ($0.9 billion) partly offset the increase.
- The increase in imports of services mostly reflected increases in insurance services ($0.1 billion) and in other business services ($0.1 billion). A decrease in transport ($0.1 billion) partly offset the increases.
For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, July 2019.