by Calculated Risk on 9/05/2018 08:42:00 AM
Wednesday, September 05, 2018
Trade Deficit increased to $50.1 Billion in July
From the Department of Commerce reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.1 billion in July, up $4.3 billion from $45.7 billion in June, revised. … July exports were $211.1 billion, $2.1 billion less than June exports. July imports were $261.2 billion, $2.2 billion more than June imports.
Exports decreased and imports increased in July.
Exports are 28% above the pre-recession peak and up 8% compared to July 2017; imports are 12% above the pre-recession peak, and up 9% compared to July 2017.
In general, trade has been picking up.
The second graph shows the U.S. trade deficit, with and without petroleum.
Oil imports averaged $64.63 in July, up from $62.42 in June, and up from $43.13 in July 2017.
The trade deficit with China increased to $36.8 billion in July, from $33.6 billion in July 2017.