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Exports Slip, Imports Climb as Trade Deficit Rises Again

Wednesday, August 12, 2015
Sandler, Travis & Rosenberg Trade Report

The monthly U.S. trade deficit in goods and services rose 7.1 percent in June to $43.8 billion, according to trade statistics released Aug. 5 by the Department of Commerce. Press reports stated that total exports are down nearly 3 percent so far this year and that the individual deficit with the European Union hit an all-time high in June.

Total Imports and Exports. Imports rose 1.2 percent to $232.4 billion while exports slipped $100 million to $186.6 billion. The year-to-date deficit was up 0.6 percent from a year earlier as exports fell 2.9 percent and imports dropped 2.2 percent.

Goods. The goods deficit grew by 4.8 percent to $63.5 billion. Imports of goods gained 1.4 percent to $191.1 billion as pharmaceutical preparations rose $1.3 billion, crude oil gained $900 million and auto imports hit a record. Exports of goods edged downward to $127.6 billion, including declines of $300 million each for telecommunications equipment and finished metal shapes.

Services. The services surplus was down less than $100 million and totaled $19.7 billion. Imports and exports both saw increases of $100 million and totaled $41.4 billion and $61.0 billion, respectively. The Department of Commerce reports that exports of services in June reached an all-time high, reflecting record exports of maintenance and repairs, travel, financial services, insurance and other business services.

Country/Region

Deficit $billion

% Change

Surplus $billion

% Change

China

29.0

-5.2

European Union

13.9

+3.7

Germany

6.8

+6.3

Mexico

5.4

+31.7

Japan

5.2

-18.8

Canada

3.1

Change from $0.2 billion surplus

South Korea

2.3

-4.2

Italy

2.2

-12.0

France

1.7

+13.3

India

1.6

-20.0

Saudi Arabia

0.5

-25.0

United Kingdom

0.2

+100

South/Central America

3.5

-16.7

Brazil

0.6

-33.3

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