U.S. International Trade in Goods and Services Highlights

September 11, 2012

Goods and Services Deficit Increases in July 2012

The Nation’s international trade deficit in goods and services increased to $42.0 billion in July from $41.9 billion in June (revised), as exports decreased more than imports.

Goods and Services

• Exports decreased to $183.3 billion in July from $185.2 billion in June (revised). Goods were $130.8 billion in July, down from $132.8 in June.  Services were $52.5 billion in July, virtually unchanged from June.

• Imports decreased to $225.3 billion in July from $227.1 billion in June (revised).  Goods were $188.1 billion in July, down from $190.2 billion in June. Services were $37.2 billion in July, up from $36.9 billion in June.

• For goods, the deficit was $57.3 billion in July, down from $57.4 billion in June (revised). For services, the surplus was $15.3 billion in July, down from $15.5 billion in June.
  

Goods by Category (Census basis)

• The June to July decrease in exports of goods reflected decreases in industrial supplies and materials ($2.4 billion); automotive vehicles, parts, and engines ($0.6 billion); other goods ($0.6 billion); and consumer goods ($0.4 billion). Increases occurred in foods, feeds, and beverages ($1.8 billion) and capital goods ($0.1 billion).

• The June to July decrease in imports of goods reflected decreases in industrial supplies and materials ($2.1 billion); capital goods ($0.6 billion);andother goods ($0.4 billion). Increases occurred in automotive vehicles, parts, and engines ($0.5 billion); consumer goods ($0.4 billion);and foods, feeds, and beverages ($0.1 billion).
  

Services by Category

• Exports of services were virtually unchanged from June to July. Increases in royalties and license fees ($0.1 billion), travel ($0.1 billion), and other private services ($0.1 billion), which includes items such as business, professional, and technical services, insurance services, and financial services, were mostly offset by decreases in several categories.  The largest decrease was in other transportation ($0.1 billion), which includes freight and port services.

• Imports of services increased $0.3 billion from June to July.  The increase was more than accounted for by an increase in royalties and license fees ($0.4 billion), which included payments for the rights to broadcast the 2012 Summer Olympic Games. Decreases in passenger fares ($0.1 billion) and travel ($0.1 billion) were partly offsetting.  Changes in the other categories of services imports were small.
  

Goods by Geographic Area (Not Seasonally Adjusted)

• The goods deficit with Canada increased from $1.5 billion in June to $2.1 billion in July.  Exports decreased $3.1 billion (primarily automobiles, parts and accessories; nonmonetary gold; and petroleum products) to $22.7 billion, while imports decreased $2.5 billion (primarily automobiles, parts and accessories) to $24.9 billion.
  

• The goods deficit with China increased from $27.4 billion in June to $29.4 billion in July.  Exports were virtually unchanged at $8.6 billion, while imports increased $2.0 billion (primarily cell phones and other household goods; toys, games, and sporting goods; apparel; and footwear) to $37.9 billion.


• The goods deficit with the European Union increased from $8.4 billion in June to $12.0 billion in July.  Exports decreased $2.7 billion (primarily pharmaceutical preparations, fuel oil, and passenger cars) to $20.6 billion, while imports increased $0.8 billion (primarily passenger cars, petroleum products, and gem diamonds) to $32.5 billion.

This and more information is provided in the Bureau of the Census and Bureau of Economic Analysis press release:

U.S.International Trade in Goods and Services: July 2012 .

For further information on goods, contact Maria Iseman, Foreign Trade Division, U.S. Census Bureau, on (301) 763-2311; on services, contact Edward Dozier, U.S. Bureau of Economic Analysis, on (202) 606-9559.

NOTE: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the information section on page A-1 of the FT-900 release, or at www.census.gov/ft900 or http://www.bea.gov/bea/di/home/trade.htm.

The next release is October 11, 2012

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Note: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the Information Section (PDF, 53k) (TXT, 23k)

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Related sites:

• U.S. Department of Commerce
  • U.S. Census Bureau, Foreign Trade Division
  • Bureau of Economic Analysis