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The U.S. trade deficit in goods and services rose 9.4 percent in July to $50.1 billion, according to trade statistics released by the Department of Commerce. Exports were down 1.0 percent to $211.1 billion while imports rose 0.8 percent to a record-high $261.2 billion.
For the year to date, the total trade deficit is up 7.0 percent from 2017. Exports have risen 8.6 percent over the same period as a year earlier while imports have increased 8.3 percent.
The deficit in goods trade rose 6.1 percent to $73.1 billion in July. Imports of goods were up 0.9 percent to $213.9 billion, including increases of $500 million in computers, $500 million in automotive vehicles, parts, and engines, and $300 million each in fuel oil and crude oil along with a $1.3 billion decrease in pharmaceutical preparations. Exports of goods fell 1.6 percent to $140.8 billion, including decreases of $1.6 billion in civilian aircraft and $700 million in soybeans.
The services surplus slipped 0.4 percent to $23.1 billion as imports gained 0.6 percent to $47.2 billion and exports gained 0.3 percent to $70.3 billion.
Change from $0.8 billion surplus