By Jeff
For July 2012, the trade deficit in goods and services increased to $42.0 billion from $41.9 billion (revised) in June, as exports decreased more than imports. Exports decreased to $183.3 billion and imports decreased to $225.3 billion.
July saw record exports of foods, feeds, and beverages ($12.9 billion). Specifically, July exports of soybeans ($4.1 billion) increased $2.0 billion from June. On the import side, imports of automotive vehicles, parts, and engines ($26.0 billion) were a record high for the third straight month.
In anticipation of Manufacturing Day on October 5th, July’s Graph of the Month highlights U.S. exports of manufactured goods. The graph shows how U.S. exports of manufactured goods have steadily increased since July 2009, on a year-to-date basis. You can find detailed data on U.S. exports of manufactured goods by visiting USA Trade Online.
For more highlights and to the view the entire release, check out the data page on the Foreign Trade Division website.
Not bad signs here. I was surprised to see soybeans as a major exports contributor.
Michael