The U.S. monthly international trade deficit decreased in July 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $80.9 billion in June (revised) to $70.6 billion in July, as exports increased and imports decreased. The previously published June deficit was $79.6 billion. The goods deficit decreased $8.2 billion in July to $91.1 billion. The services surplus increased $2.1 billion in July to $20.4 billion.
Exports of goods and services increased $0.5 billion, or 0.2 percent, in July to $259.3 billion. Exports of goods decreased $0.3 billion and exports of services increased $0.8 billion.
- The decrease in exports of goods reflected decreases in foods, feeds, and beverages ($1.3 billion) and in industrial supplies and materials ($0.9 billion). An increase in capital goods ($2.1 billion) partly offset the decreases.
- The increase in exports of services reflected increases in travel ($0.6 billion) and in other business services ($0.3 billion).
Imports of goods and services decreased $9.7 billion, or 2.9 percent, in July to $329.9 billion. Imports of goods decreased $8.5 billion and imports of services decreased $1.2 billion.
- The decrease in imports of goods reflected decreases in consumer goods ($7.4 billion) and in industrial supplies and materials ($1.8 billion). An increase in automotive vehicles, parts, and engines ($1.8 billion) partly offset the decreases.
- The decrease in imports of services reflected decreases in transport ($1.1 billion) and in travel ($0.3 billion).
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