The U.S. trade deficit increased by $4.6 billion to $39.1 billion in July from the prior month, according to the Department of Commerce.
The change was almost entirely due to trade in goods, primarily lower exports of capital goods and automotive products, which carried a $58.6 billion deficit. The United States ran a surplus of $19.4 billion in services.
July exports were $1.1 billion off the all-time monthly high of $190.5 billion.
Exports of goods decreased $1.1 billion to $132.7 billion and imports increased $3.4 billion to $191.3 billion.
On a year-over-year basis, the overall trade deficit decreased $4.3 billion. Exports were up $6.1 billion, or 3.3 percent, while imports inched up 0.8 percent, or $1.8 billion.
The Census Bureau revised its original estimate of June’s trade figures, saying exports were actually $100 million less and imports were $500 million greater than previously thought. – Eric Kulisch
U.S. trade deficit grows in July
