Trade Deficit Widened by $5.8 Billion in July

Washington, DC, September 4, 2024-The goods and services deficit was $78.8 billion in July, up $5.8 billion from $73.0 billion in June, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.

July exports were $266.6 billion, $1.3 billion more than June exports. July imports were $345.4 billion, $7.1 billion more than June imports.

The July increase in the goods and services deficit reflected an increase in the goods deficit of $5.6 billion to $103.1 billion and a decrease in the services surplus of $0.2 billion to $24.3 billion.

Year-to-date, the goods and services deficit increased $36.2 billion, or 7.7%, from the same period in 2023. Exports increased $65.9 billion or 3.7%. Imports increased $102.1 billion or 4.5%.