U.S. Trade Deficit Narrowed by $10.2 Billion in July

Washington, DC, September 7, 2022-The goods and services deficit was $70.6 billion in July, down $10.2 billion from $80.9 billion in June, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.

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.

The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $8.2 billion to $91.1 billion and an increase in the services surplus of $2.1 billion to $20.4 billion.

Year-to-date, the goods and services deficit increased $136.6 billion, or 29.0%, from the same period in 2021. Exports increased $286.4 billion or 19.9%. Imports increased $423.0 billion or 22.1%.