The U.S. monthly international trade deficit decreased in July 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $73.2 billion in June (revised) to $70.1 billion in July, as exports increased and imports decreased. The previously published June deficit was $75.7 billion. The goods deficit decreased$5.5 billion in July to $87.7 billion. The services surplus decreased $2.4 billion in July to $17.7 billion.
Exports of goods and services increased $2.8 billion, or 1.3 percent, in July to $212.8 billion. Exports of goods increased $2.7 billion and exports of services increased $0.1 billion.
- The increase in exports of goods reflected increasesin capital goods ($1.0 billion), in consumer goods ($0.8 billion), and in automotive vehicles, parts, and engines($0.6 billion).
- The increase in exports of services reflectedincreasesin other business services($0.2 billion) and in charges for the use of intellectual property ($0.1 billion). A decrease in travel ($0.2 billion) partly offset the increases.
Imports of goods and services decreased$0.4 billion, or 0.2 percent, in July to $282.9 billion. Imports of goods decreased$2.9 billion and imports of services increased $2.4 billion.
- The decrease in imports of goods reflected decreases in consumer goods ($2.1 billion) and in industrial supplies and materials($1.7 billion). An increase in automotive vehicles, parts, and engines($1.1 billion) partly offset the decreases.
- The increase in imports of services reflected increases in travel($1.0 billion); in charges for the use of intellectual property ($0.9 billion), which included payments for the rights to broadcast the 2020 Summer Olympic Games; and in transport($0.4 billion).
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