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Trade Deficit Increases as Export Fall, Imports Rise

Monday, August 06, 2018
Sandler, Travis & Rosenberg Trade Report

The U.S. trade deficit in goods and services rose 7.4 percent in June to $46.3 billion, the first monthly increase after three months of declines, according to trade statistics released by the Department of Commerce. Exports were down 0.7 percent to $213.8 billion while imports rose 0.6 percent to $260.2 billion.

For the year to date, the total deficit is up 7.2 percent from 2017. Exports have risen 9.0 percent over the same period as a year earlier while imports have increased 8.6 percent.  

The deficit in goods trade rose 4.7 percent to $68.8 billion in June. Imports of goods were up 0.7 percent to $212.0 billion, including increases of $1.5 billion in pharmaceutical preparations and $1.2 billion in crude oil along with decreases of $800 million in computers and $500 million in telecommunications equipment. Exports of goods fell 1.2 percent to $143.2 billion, including decreases of $900 million in passenger cars, $600 million in pharmaceutical preparations, and $400 million in jewelry.

The services surplus slipped 0.9 percent to $22.5 billion as imports gained 0.4 percent to $48.1 billion and exports gained 0.3 percent to $70.6 billion.

Country/region

Deficit

% Change

Surplus

% Change

China

$32.5 billion

+1.6

European Union

$12.8 billion

+7.6

Mexico

$6.7 billion

+15.5

Germany

$5.7 billion

0

   

Japan

$5.6 billion

-6.7

Canada

$2.6 billion

+18.2

Italy

$2.2 billion

-15.4

India

$1.7 billion

-34.6

Taiwan

$1.4 billion

0

South Korea

$1.3 billion

-7.1

France

$0.7 billion

-25.0

   

South/Central America

$3.3 billion

-8.3

Hong Kong

$2.5 billion

-10.7

Brazil

$0.8 billion

0

Saudi Arabia

$0.8 billion

+700

United Kingdom

$0.4 billion

-33.3

Singapore

$0.1 billion

-88.9

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