BEA News: U.S. International Trade in Goods & Services July 2016

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:
FOR IMMEDIATE RELEASE AT 8:30 A.M. EDT
Friday, September 2, 2016
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES July 2016

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $39.5 billion in July, down $5.2 billion from $44.7 billion in June, revised. July exports were $186.3 billion, $3.4 billion more than June exports. July imports were $225.8 billion, $1.8 billion less than June imports. The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $5.3 billion to $60.3 billion and a decrease in the services surplus of $0.1 billion to $20.9 billion. Year-to-date, the goods and services deficit decreased $0.5 billion, or 0.2 percent, from the same period in 2015. Exports decreased $63.7 billion or 4.8 percent. Imports decreased $64.2 billion or 4.0 percent
.

Revisions
Exports and imports of goods and services were revised for January through June 2016 to incorporate
more comprehensive and updated quarterly and monthly data.

Revisions to June exports
   * Exports of goods were revised upward $0.2 billion.
   * Exports of services were revised downward $0.5 billion.

Revisions to June imports
   * Imports of goods were revised downward $0.2 billion.
   * Imports of services were revised upward $0.1 billion.

Goods by Selected Countries and Areas: Monthly - Census Basis (Exhibit 19)

The July figures show surpluses, in billions of dollars, with
South and Central America ($2.6)
Hong Kong ($2.0)
Singapore ($0.9)
Brazil ($0.6)
United Kingdom ($0.5).

Deficits were recorded, in billions of dollars, with
China ($29.4)
European Union ($11.8)
Japan ($6.0),
Germany ($5.3)
Mexico ($5.2)
South Korea ($2.3)
India ($2.2)
Italy ($1.8)
Taiwan ($1.2),
France ($1.0)
OPEC ($0.9)
Canada ($0.4)
Saudi Arabia ($0.2).

   * The balance with the United Kingdom shifted from a deficit of $0.2 billion in June to a
     surplus of $0.5 billion in July. Exports increased $0.1 billion to $4.7 billion and imports
     decreased $0.6 billion to $4.2 billion.
   * The deficit with France decreased $0.6 billion to $1.0 billion in July. Exports increased
     $0.5 billion to $2.9 billion and imports decreased $0.2 billion to $3.9 billion.
   * The deficit with China increased $1.4 billion to $29.4 billion in July. Exports increased
     $0.4 billion to $9.8 billion and imports increased $1.8 billion to $39.2 billion.

Goods and Services by Selected Countries and Areas:
Quarterly - Balance of Payments Basis (Exhibit 20)
The second quarter figures show surpluses, in billions of dollars, with
South and Central America
($17.0),
Hong Kong ($6.3),
Brazil ($5.8),
OPEC ($5.1),
Singapore ($4.5),
United Kingdom ($3.3),
Canada ($2.9),
Saudi Arabia ($2.2).

Deficits were recorded, in billions of dollars, with
China ($74.0),
European Union ($24.0),
Germany ($17.1),
Mexico ($14.8),
Japan ($13.8), Italy
($8.0),
India ($7.6),
South Korea ($5.2),
France ($3.5)
Taiwan ($2.1).
Source: http://www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm

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