by Calculated Risk on 9/07/2022 08:39:00 AM
From the Department of Commerce reported:
today that the goods and services deficit was $70.6 billion in July, down $10.2 billion from $80.9 billion in
July exports were $259.3 billion, $0.5 billion more than June exports. July imports were $329.9 billion, $9.7
billion less than June imports.
Exports increased and imports decreased in July.
Exports are up 21% year-over-year; imports are up 16% year-over-year.
The second graph shows the U.S. trade deficit, with and without petroleum.
Note that net, imports and exports of petroleum products are close to zero.
The trade deficit with China increased to $34.4 billion in July, from $28.6 billion a year ago.