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                                   U.S. Census Bureau
                            U.S. Bureau of Economic Analysis
                                          NEWS
                    U.S. Department of Commerce * Washington, DC 20230

                      U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES
                                        July 2012


Goods and Services

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of
Commerce, announced today that total July exports of $183.3 billion and imports of $225.3 billion
resulted in a goods and services deficit of $42.0 billion, up from $41.9 billion in June, revised.
July exports were $1.9 billion less than June exports of $185.2 billion.  July imports were $1.8
billion less than June imports of $227.1 billion.

In July, the goods deficit decreased $0.2 billion from June to $57.3 billion, and the services
surplus decreased $0.3 billion from June to $15.3 billion.  Exports of goods decreased $1.9
billion to $130.8 billion, and imports of goods decreased $2.1 billion to $188.1 billion.  Exports
of services were virtually unchanged at $52.5 billion, and imports of services increased $0.3
billion to $37.2 billion.

The goods and services deficit decreased $3.6 billion from July 2011 to July 2012.  Exports were
up $4.9 billion, or 2.8 percent, and imports were up $1.4 billion, or 0.6 percent.

Goods (Census Basis)

The June to July decrease in exports of goods reflected decreases in industrial supplies and
materials ($2.4 billion); automotive vehicles, parts, and engines ($0.6 billion); other goods
($0.6 billion); and consumer goods ($0.4 billion). Increases occurred in foods, feeds, and
beverages ($1.8 billion) and capital goods ($0.1 billion).

The June to July decrease in imports of goods reflected decreases in industrial supplies and
materials ($2.1 billion); capital goods ($0.6 billion); and other goods ($0.4 billion).  Increases
occurred in automotive vehicles, parts, and engines ($0.5 billion); consumer goods ($0.4 billion);
and foods, feeds, and beverages ($0.1 billion).

The July 2011 to July 2012 increase in exports of goods reflected increases in foods, feeds, and
beverages ($2.5 billion); capital goods ($2.3 billion); consumer goods ($0.9 billion); automotive
vehicles, parts, and engines ($0.5 billion); and other goods ($0.1 billion).  A decrease occurred
in industrial supplies and materials ($2.0 billion).

The July 2011 to July 2012 increase in imports of goods reflected increases in automotive vehicles,
parts, and engines ($3.6 billion); capital goods ($2.5 billion); other goods ($0.8 billion); and
foods, feeds, and beverages ($0.2 billion).  Decreases occurred in industrial supplies and materials
($6.0 billion) and consumer goods ($0.1 billion).

Services

Exports of services were virtually unchanged from June to July.  Increases in royalties and license
fees ($0.1 billion), travel ($0.1 billion), and other private services ($0.1 billion), which
includes items such as business, professional, and technical services, insurance services, and
financial services, were mostly offset by decreases in several categories.  The largest decrease
was in other transportation ($0.1 billion), which includes freight and port services.

Imports of services increased $0.3 billion from June to July.  The increase was more than accounted
for by an increase in royalties and license fees ($0.4 billion), which included payments for the
rights to broadcast the 2012 Summer Olympic Games.  Decreases in passenger fares ($0.1 billion)
and travel ($0.1 billion) were partly offsetting.  Changes in the other categories of services
imports were small.

The July 2011 to July 2012 increase in exports of services was $0.7 billion.  The largest increases
were in other private services ($0.6 billion) and travel ($0.4 billion).  Within other private
services, the largest increase was in business, professional, and technical services.

The July 2011 to July 2012 increase in imports of services was $0.8 billion.  The largest increases
were in royalties and license fees ($0.6 billion) and travel ($0.4 billion).

Goods and Services Moving Average

For the three months ending in July, exports of goods and services averaged $183.8 billion, while
imports of goods and services averaged $227.7 billion, resulting in an average trade deficit of
$43.8 billion. For the three months ending in June, the average trade deficit was $46.4 billion,
reflecting average exports of $183.7 billion and average imports of $230.1 billion.

Selected Not Seasonally Adjusted Goods Details

The July figures show surpluses, in billions of dollars, with Australia $2.1 ($1.9 for June),
Hong Kong $1.8 ($2.6), Singapore $0.7 ($1.2), and Egypt $0.2 ($0.1).  Deficits were recorded, in
billions of dollars, with China $29.4 ($27.4), European Union $12.0 ($8.4), OPEC $8.4 ($8.5),
Japan $6.8 ($6.0), Mexico $5.0 ($5.9), Germany $4.9 ($4.1), Ireland $2.6 ($2.6), Canada $2.1
($1.5), Korea $1.9 ($1.1), Taiwan $1.5 ($1.2), Venezuela $1.4 ($1.0), and Nigeria $0.8 ($1.4).

Advanced technology products exports were $24.8 billion in July and imports were $33.0 billion,
resulting in a deficit of $8.1 billion.  July exports were $1.7 billion less than the $26.5 billion
in June, while July imports were $0.7 billion less than the $33.7 billion in June.

Revisions

Census Basis (not seasonally adjusted)

For June, exports of goods were revised up $0.1 billion and imports of goods were revised down
$0.1 billion.  Goods carry-over in July was $0.2 billion (0.2 percent) for exports and $0.7 billion
(0.4 percent) for imports. For June, revised export and import carry-over were virtually zero.

Balance of Payments Basis (seasonally adjusted)

For January 2012 through June 2012, exports and imports of goods and services were revised to
incorporate more comprehensive and updated quarterly and monthly data.

For June, exports of goods were virtually unrevised and imports of goods were revised down $0.1
billion.  Exports of services were revised up $0.2 billion; an upward revision in other private
services was partly offset by downward revisions in travel and transfers under U.S. military
sales contracts.  Imports of services were revised down $0.7 billion, mostly reflecting a downward
revision in other private services.