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 2016

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of
Commerce, announced today that the goods and services deficit was $39.5 billion in July, down
$5.2 billion from $44.7 billion in June, revised. July exports were $186.3 billion, $3.4 billion
more than June exports. July imports were $225.8 billion, $1.8 billion less than June imports.

The July decrease in the goods and services deficit reflected a decrease in the goods deficit
of $5.3 billion to $60.3 billion and a decrease in the services surplus of $0.1 billion to $20.9
billion.

Year-to-date, the goods and services deficit decreased $0.5 billion, or 0.2 percent, from the
same period in 2015. Exports decreased $63.7 billion or 4.8 percent. Imports decreased $64.2
billion or 4.0 percent.

Goods and Services Three-Month Moving Averages (Exhibit 2)

The average goods and services deficit increased $0.3 billion to $42.0 billion for the three
months ending in July.
   * Average exports of goods and services increased $1.6 billion to $183.5 billion in July.
   * Average imports of goods and services increased $1.9 billion to $225.6 billion in July.

Year-over-year, the average goods and services deficit increased $1.0 billion from the three
months ending in July 2015.
  * Average exports of goods and services decreased $6.7 billion from July 2015.
  * Average imports of goods and services decreased $5.7 billion from July 2015.

Exports (Exhibits 3, 6, and 7)

Exports of goods increased $3.4 billion to $124.1 billion in July.
   Exports of goods on a Census basis increased $3.6 billion.
      * Foods, feeds, and beverages increased $3.7 billion.
         o Soybeans increased $3.6 billion.
   Net balance of payments adjustments decreased $0.2 billion.

Exports of services decreased less than $0.1 billion to $62.3 billion in July.
      * Transport, which includes freight and port services and passenger fares, and financial
        services each decreased $0.1 billion.
      * Travel (for all purposes including education) increased $0.2 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods decreased $1.9 billion to $184.4 billion in July.
   Imports of goods on a Census basis decreased $1.9 billion.
      * Consumer goods decreased $1.5 billion.
         o Pharmaceutical preparations decreased $1.0 billion.
         o Cell phones and other household goods decreased $0.6 billion.
      * Capital goods decreased $0.7 billion.
         o Civilian aircraft decreased $0.9 billion.
   Net balance of payments adjustments increased $0.1 billion.

Imports of services increased $0.1 billion to $41.4 billion in July.
      * Travel (for all purposes including education) increased $0.1 billion.

Real Goods in 2009 Dollars - Census Basis (Exhibit 11)

The real goods deficit decreased $6.3 billion to $58.3 billion in July.
   * Real exports of goods increased $3.5 billion to $120.7 billion.
   * Real imports of goods decreased $2.8 billion to $179.0 billion.

Revisions

Exports and imports of goods and services were revised for January through June 2016 to incorporate
more comprehensive and updated quarterly and monthly data.

Revisions to June exports
   * Exports of goods were revised upward $0.2 billion.
   * Exports of services were revised downward $0.5 billion.

Revisions to June imports
   * Imports of goods were revised downward $0.2 billion.
   * Imports of services were revised upward $0.1 billion.

Goods by Selected Countries and Areas: Monthly - Census Basis (Exhibit 19)

The July figures show surpluses, in billions of dollars, with South and Central America ($2.6),
Hong Kong ($2.0), Singapore ($0.9), Brazil ($0.6), and United Kingdom ($0.5). Deficits were
recorded, in billions of dollars, with China ($29.4), European Union ($11.8), Japan ($6.0),
Germany ($5.3), Mexico ($5.2), South Korea ($2.3), India ($2.2), Italy ($1.8), Taiwan ($1.2),
France ($1.0), OPEC ($0.9), Canada ($0.4), and Saudi Arabia ($0.2).

   * The balance with the United Kingdom shifted from a deficit of $0.2 billion in June to a
     surplus of $0.5 billion in July. Exports increased $0.1 billion to $4.7 billion and imports
     decreased $0.6 billion to $4.2 billion.
   * The deficit with France decreased $0.6 billion to $1.0 billion in July. Exports increased
     $0.5 billion to $2.9 billion and imports decreased $0.2 billion to $3.9 billion.
   * The deficit with China increased $1.4 billion to $29.4 billion in July. Exports increased
     $0.4 billion to $9.8 billion and imports increased $1.8 billion to $39.2 billion.

Goods and Services by Selected Countries and Areas: Quarterly - Balance of Payments Basis (Exhibit 20)

The second quarter figures show surpluses, in billions of dollars, with South and Central America
($17.0), Hong Kong ($6.3), Brazil ($5.8), OPEC ($5.1), Singapore ($4.5), United Kingdom ($3.3),
Canada ($2.9), and Saudi Arabia ($2.2). Deficits were recorded, in billions of dollars, with
China ($74.0), European Union ($24.0), Germany ($17.1), Mexico ($14.8), Japan ($13.8), Italy
($8.0), India ($7.6), South Korea ($5.2), France ($3.5), and Taiwan ($2.1).

   * The surplus with members of OPEC decreased $3.4 billion to $5.1 billion in the second
     quarter. Exports decreased $3.0 billion to $26.1 billion and imports increased $0.3 billion
     to $20.9 billion.
   * The deficit with the European Union increased $2.4 billion to $24.0 billion in the second
     quarter. Exports decreased $0.5 billion to $124.7 billion and imports increased $1.9 billion
     to $148.7 billion.
   * The deficit with China decreased $7.6 billion to $74.0 billion in the second quarter.
     Exports increased $2.0 billion to $41.4 billion and imports decreased $5.6 billion to $115.4
     billion.

NOTES:
   * All statistics referenced are seasonally adjusted; statistics are on a balance of payments
     basis unless otherwise specified. Additional statistics, including not seasonally adjusted
     statistics and details for goods on a Census basis, are available in Exhibits 1-20b of this
     release. For information on data sources, definitions, revision procedures, and scheduled
     release dates through December 2016, see the information section on page A-1 of this release.
     The next release is October 5, 2016.

   * For definitions of goods on a balance of payments basis, goods on a Census basis, and net
     balance of payments adjustments, see the information section on page A-1 of this release.

NOTICE

Change to OPEC

With this release of the "U.S. International Trade in Goods and Services" report (FT-900),
statistics for OPEC now include Gabon, which rejoined on July 1. This change affects Exhibits 14,
17a, and 19 of the FT-900 and Exhibit 4 of the FT-900 Supplement. This change will also affect
Exhibits 20, 20a, and 20b of the FT-900 with the December 6, 2016 release.

If you have questions or need additional information, please contact the U.S. Census Bureau,
Economic Indicators Division, on (800) 549-0595, option 4, or at eid.international.trade.data@census.gov.

To learn more about the FT-900 and other economic indicators the Census Bureau publishes, join
the Economic Indicators Division for the "Investigating Economic Indicators" Webinar series. For
more information, visit www.census.gov/econ/webinar.