FOR IMMEDIATE RELEASE AT 8:30 A.M. EDT, Wednesday, September 6, 2017
CB 17-145
BEA 17—45
FT-900 (17-07)



See the navigation bar at the right side of the news release text for links to data tables, contact personnel and their telephone numbers, and supplementary materials.


                                      U.S. Census Bureau
                               U.S. Bureau of Economic Analysis
                                   	     NEWS
                      U.S. Department of Commerce * Washington, DC 20230
                        U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES

                                           July 2017

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce,
announced today that the goods and services deficit was $43.7 billion in July, up $0.1 billion
from $43.5 billion in June, revised. July exports were $194.4 billion, $0.6 billion less than June
exports. July imports were $238.1 billion, $0.4 billion less than June imports.

The July increase in the goods and services deficit reflected a decrease in the goods deficit of
less than $0.1 billion to $65.3 billion and a decrease in the services surplus of $0.2 billion
to $21.6 billion.

Year-to-date, the goods and services deficit increased $27.9 billion, or 9.6 percent, from the
same period in 2016. Exports increased $76.8 billion or 6.0 percent. Imports increased $104.8 billion
or 6.7 percent.

Goods and Services Three-Month Moving Averages (Exhibit 2)

The average goods and services deficit decreased $1.2 billion to $44.5 billion for the three months
ending in July.
     * Average exports of goods and services increased $0.9 billion to $193.9 billion in July.
     * Average imports of goods and services decreased $0.3 billion to $238.4 billion in July.

Year-over-year, the average goods and services deficit increased $2.3 billion from the three months
ending in July 2016.
     * Average exports of goods and services increased $10.1 billion from July 2016.
     * Average imports of goods and services increased $12.4 billion from July 2016.

Exports (Exhibits 3, 6, and 7)

Exports of goods decreased $0.4 billion to $128.6 billion in July.
    Exports of goods on a Census basis decreased $0.4 billion.
         * Consumer goods decreased $0.7 billion.
             o Cell phones and other household goods decreased $0.5 billion.
         * Automotive vehicles, parts, and engines decreased $0.6 billion.
             o Passenger cars decreased $1.0 billion.
         * Capital goods increased $0.9 billion.
             o Civilian aircraft increased $1.1 billion.
    Net balance of payments adjustments decreased $0.1 billion.

Exports of services decreased $0.1 billion to $65.8 billion in July.
         * Travel (for all purposes including education) decreased $0.3 billion.
         * Other business services, which includes research and development services; professional
	   and management services; and technical, trade-related, and other services, increased
	   $0.2 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $0.5 billion to $193.9 billion in July.
    Imports of goods on a Census basis decreased $0.4 billion.
         * Automotive vehicles, parts, and engines decreased $0.8 billion.
             o Passenger cars decreased $0.8 billion.
         * Industrial supplies and materials decreased $0.7 billion.
             o Crude oil decreased $1.0 billion.
         * Capital goods increased $1.3 billion.
             o Computer accessories increased $0.6 billion.
             o Computers increased $0.6 billion.
    Net balance of payments adjustments decreased less than $0.1 billion.

Imports of services increased less than $0.1 billion to $44.1 billion in July. The changes in all
categories were $0.1 billion or less and nearly offsetting.

Real Goods in 2009 Dollars  Census Basis (Exhibit 11)

The real goods deficit increased $0.8 billion to $61.6 billion in July.
     * Real exports of goods decreased $0.7 billion to $126.4 billion.
     * Real imports of goods increased $0.1 billion to $188.0 billion.

Revisions

Exports and imports of goods and services were revised for January through June 2017 to incorporate
more comprehensive and updated quarterly and monthly data.

Revisions to June exports
     * Exports of goods were revised up less than $0.1 billion.
     * Exports of services were revised up $0.5 billion.
Revisions to June imports
     * Imports of goods were revised up $0.1 billion.
     * Imports of services were revised up $0.3 billion.

Goods by Selected Countries and Areas: Monthly  Census Basis (Exhibit 19)

The July figures show surpluses, in billions of dollars, with South and Central America ($3.5),
Hong Kong ($2.8), Brazil ($0.8), Saudi Arabia ($0.8), and Singapore ($0.7). Deficits were recorded,
in billions of dollars, with China ($31.8), European Union ($12.1), Japan ($5.5), Mexico ($5.4),
Germany ($5.3), Italy ($2.4), India ($1.9), Taiwan ($1.9), South Korea ($1.8), France ($1.3), Canada
($0.9), United Kingdom ($0.2), and OPEC ($0.1).

     * The surplus with South and Central America increased $0.9 billion to $3.5 billion in July.
       Exports increased $1.0 billion to $12.9 billion and imports increased $0.1 billion to $9.4
       billion.
     * The balance with Saudi Arabia shifted from a deficit of less than $0.1 billion to a surplus
       of $0.8 billion in July. Exports increased $0.4 billion to $1.9 billion and imports decreased
       $0.4 billion to $1.2 billion.

Goods and Services by Selected Countries and Areas: Quarterly  Balance of Payments Basis (Exhibit
20)

The second quarter figures show surpluses, in billions of dollars, with South and Central America
($18.4), Hong Kong ($7.5), Brazil ($6.4), Singapore ($5.1), United Kingdom ($4.3), OPEC ($3.1),
and Saudi Arabia ($1.8). Deficits were recorded, in billions of dollars, with China ($83.6), European
Union ($23.7), Mexico ($18.5), Germany ($16.9), Japan ($13.6), Italy ($8.8), India ($7.4), Taiwan
($3.9), France ($3.6), South Korea ($1.5), and Canada ($1.0).

     * The balance with Saudi Arabia shifted from a deficit of $0.6 billion to a surplus of $1.8
       billion in the second quarter. Exports increased $0.5 billion to $7.1 billion and imports
       decreased $1.8 billion to $5.3 billion.
     * The deficit with South Korea decreased $2.2 billion to $1.5 billion in the second quarter.
       Exports increased $1.6 billion to $18.7 billion and imports decreased $0.6 billion to $20.2
       billion.

NOTES:

   * All statistics referenced are seasonally adjusted; statistics are on a balance of
     payments basis unless otherwise specified. Additional statistics, including not seasonally
     adjusted statistics and details for goods on a Census basis, are available in Exhibits 1-20b
     of this release. For information on data sources, definitions, revision procedures, and
     scheduled release dates through December 2017, see the information section on page A-1 of
     this release. The next release is October 5, 2017.

   * For definitions of goods on a balance of payments basis, goods on a Census basis, and net
     balance of payments adjustments, see the information section on page A-1 of this release.

NOTICE

Change to OPEC

With this release of the "U.S. International Trade in Goods and Services" report (FT-900), statistics
for OPEC now include Equatorial Guinea, which joined on May 25, 2017. This change affects Exhibits
14, 17a, and 19 of the FT-900 and Exhibit 4 of the FT-900 Supplement. This change will also affect
Exhibits 20, 20a, and 20b of the FT-900 with the December 5, 2017 release.

If you have questions or need additional information, please contact the U.S. Census Bureau, Economic
Indicators Division, on (800) 549-0595, option 4, or at eid.international.trade.data@census.gov.