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Trade gap narrows in July

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Trade gap narrows in July

Trade deficit lowest in six months.

The Department of Commerce announced today that the nation’s international trade deficit in goods and services decreased to $40.5 billion in July from a revised $40.8 billion in June, the lowest deficit in six months.

Analysts had expected a deficit of $42.2 billion.

Exports increased to $198.0 billion in July from $196.2 billion in June. Exports of goods were $138.6 billion in July, up from $136.8 billion in June. Exports of services were $59.4 billion in July, up from $59.3 billion in June.

Imports increased to $238.6 billion in July from $237.0 billion in June. Goods were $198.8 billion in June, up from $197.3 billion in June. Services were basically unchanged at $39.8 billion.

For the full report, click here.

 

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