Trade deficit decreases in July; new data tool online

By: Joe Kafchinski

The U.S. international trade deficit decreased to $42.8 billion in July 2010, as exports increased and imports decreased. Exports increased $2.8 billion to $153.3 billion and imports decreased $4.2 billion to $196.1 billion. The $7.0 billion drop in the deficit is the largest since a $9.7 billion drop from January to February 2009.  Chart on the July 2010 Trade Balance

For the second straight month, there was a large change in the trade balance despite comparatively stable petroleum imports. Last month (June 2010) saw a $7.9 billion increase in the deficit despite a 3.3% drop in petroleum imports. This month, the trade deficit improved despite petroleum imports holding steady at $26.8 billion. A drop of $0.7 billion in crude oil was offset by increases in fuel oil and other petroleum products.

After reaching a record high $43.1 billion in June, imports of Consumer Goods dropped $1.9 billion to $41.2 billion in July.

The increase in exports was driven by civilian aircraft, up $1.4 billion to $3.6 billion in July.

If you haven’t seen it yet, check out the new searchable database of economic indicator data produced by the U.S. Census Bureau. It currently contains data on international trade; manufacturer’s shipments, inventories and orders; and quarterly services, with plans to expand to include all Census Bureau economic indicators.

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One Response to Trade deficit decreases in July; new data tool online

  1. 20MilesNorth says:

    What is the correlation to the US Dollar with the import/export numbers, are they simply a function of the currency conversion or is there really more to that?

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