Trade Deficit Expands to $65.02B
The U.S. international trade in goods and services, also known as the FT-900, is published monthly by the Bureau of Economic Analysis with data going back to 1992. The monthly reports include revisions that go back several months. This trade balance measures the difference in value between imported and exported goods and services.
Here is an excerpt from the latest report:
The U.S. monthly international trade deficit increased in July 2023 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $63.7 billion in June (revised) to $65.0 billion in July as imports increased more than exports. The goods deficit increased $2.0 billion in July to $90.0 billion. The services surplus increased $0.7 billion in June to $25.0 billion.
In July, the trade deficit expanded by 2.0% to $65.02B. The latest reading was below the forecast of $68.00B. The deficit has shrunk by 9.3% compared to one year ago.
This indicator is somewhat volatile, with an 8.7% absolute average monthly change. The latest data point saw a 2.0% month-over-month change. Here is a snapshot that gives a better sense of the extreme volatility of this indicator.
This article was originally written by Doug Short. From 2016-2022, it was improved upon and updated by Jill Mislinski. Starting in January 2023, AP Charts pages will be maintained by Jennifer Nash at VettaFi | Advisor Perspectives