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July Trade Gap $63.6B On Record Imports Surge; Gap Wider Than Expected

US DATA

Trade deficit rose sharply in July to USD63.6B (highest since 2008) from a revised USD53.5B in June with imports surging a record 10.9% and exports rising 8.1%. Trade remains below pre-pandemic levels as business operations remain limited and cross-border travel restricted.

  • Total goods imports rose sharply by USD21.5B, led by auto, followed by industrial supplies, capital goods and consumer goods .
  • Total goods exports rose by USD12.3B on auto, consumer goods and industrial supplies.
  • Goods deficit was highest on record
  • Services surplus is lowest since August 2012
  • U.S.-China deficit rose USD1.6B to USD28.3B
  • U.S.-Mexico deficit was highest on record at USD10.6B
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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