The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.3 billion in July, up $19.2 billion from $59.1 billion in June, revised.
| Deficit: | $78.3 Billion | +32.5%° |
| Exports: | $280.5 Billion | +0.3%° |
| Imports: | $358.8 Billion | +5.9%° |
|
Next release: Tuesday, October 7, 2025 (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, September 4, 2025 |
||
Exports, Imports, and Balance (exhibit 1)
July exports were $280.5 billion, $0.8 billion more than June exports. July imports were $358.8 billion, $20.0 billion more than June imports.
The July increase in the goods and services deficit reflected an increase in the goods deficit of $18.2 billion to $103.9 billion and a decrease in the services surplus of $1.1 billion to $25.6 billion.
Year-to-date, the goods and services deficit increased $154.3 billion, or 30.9 percent, from the same period in 2024. Exports increased $103.1 billion or 5.5 percent. Imports increased $257.5 billion or 10.9 percent.
Three-Month Moving Averages (exhibit 2)
The average goods and services deficit increased $6.0 billion to $69.5 billion for the three months ending in July.
- Average exports decreased $3.8 billion to $280.2 billion in July.
- Average imports increased $2.3 billion to $349.7 billion in July.
Year-over-year, the average goods and services deficit decreased $6.2 billion from the three months ending in July 2024.
- Average exports increased $12.0 billion from July 2024.
- Average imports increased $5.9 billion from July 2024.
Exports (exhibits 3, 6, and 7)
Exports of goods increased $0.2 billion to $179.4 billion in July.
Exports of goods on a Census basis increased less than $0.1 billion.
- Capital goods increased $0.6 billion.
- Computer accessories increased $0.9 billion.
- Civilian aircraft increased $0.7 billion.
- Excavating machinery decreased $1.5 billion.
- Automotive vehicles, parts, and engines increased $0.3 billion.
- Trucks, buses, and special purpose vehicles increased $0.4 billion.
- Other goods decreased $0.5 billion.
- Industrial supplies and materials decreased $0.2 billion.
- Finished metal shapes decreased $2.5 billion.
- Nonmonetary gold increased $2.9 billion.
Net balance of payments adjustments increased $0.2 billion.
Exports of services increased $0.6 billion to $101.0 billion in July.
- Transport increased $0.3 billion.
- Charges for the use of intellectual property increased $0.2 billion.
- Government goods and services increased $0.1 billion.
- Travel decreased $0.3 billion.
Imports (exhibits 4, 6, and 8)
Imports of goods increased $18.4 billion to $283.3 billion in July.
Imports of goods on a Census basis increased $18.3 billion.
- Industrial supplies and materials increased $12.5 billion.
- Nonmonetary gold increased $9.6 billion.
- Capital goods increased $4.7 billion.
- Computers increased $1.5 billion.
- Telecommunications equipment increased $0.9 billion.
- Other industrial machinery increased $0.7 billion.
- Semiconductors decreased $0.8 billion.
- Consumer goods increased $1.3 billion.
- Jewelry increased $0.6 billion.
- Pharmaceutical preparations decreased $1.1 billion.
- Automotive vehicles, parts, and engines decreased $1.4 billion.
- Trucks, buses, and special purpose vehicles decreased $1.0 billion.
- Passenger cars decreased $0.8 billion.
Net balance of payments adjustments increased $0.1 billion.
Imports of services increased $1.7 billion to $75.5 billion in July.
- Transport increased $0.6 billion.
- Travel increased $0.6 billion.
- Other business services increased $0.2 billion.
Real Goods in 2017 Dollars – Census Basis (exhibit 11)
The real goods deficit increased $15.5 billion, or 18.3 percent, to $100.1 billion in July, compared to a 21.6 percent increase in the nominal deficit.
- Real exports of goods decreased $0.3 billion, or 0.2 percent, to $146.2 billion, compared to a less than 0.1 percent increase in nominal exports.
- Real imports of goods increased $15.2 billion, or 6.6 percent, to $246.3 billion, compared to a 7.0 percent increase in nominal imports.
Revisions
Exports and imports of goods and services were revised for January through June 2025 to incorporate more comprehensive and updated quarterly and monthly data.
Revisions to June exports
- Exports of goods were revised up $0.1 billion.
- Exports of services were revised up $2.2 billion.
Revisions to June imports
- Imports of goods were revised down $0.1 billion.
- Imports of services were revised up $1.3 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)
The July figures show surpluses, in billions of dollars, with Netherlands ($4.8), South and Central America ($4.6), Hong Kong ($1.9), United Kingdom ($1.8), Belgium ($1.0), Brazil ($0.5), Saudi Arabia ($0.3), and Singapore ($0.3). Deficits were recorded, in billions of dollars, with Mexico ($16.6), Vietnam ($16.1), China ($14.7), Taiwan ($13.5), European Union ($8.6), Switzerland ($7.7), India ($5.6), Canada ($5.4), Germany ($5.4), South Korea ($5.0), Japan ($4.8), Malaysia ($2.7), Ireland ($2.6), Italy ($2.2), Israel ($0.7), Australia ($0.4), and France ($0.3).
- The deficit with Switzerland increased $7.6 billion to $7.7 billion in July. Exports decreased $1.2 billion to $2.9 billion and imports increased $6.5 billion to $10.6 billion.
- The deficit with China increased $5.3 billion to $14.7 billion in July. Exports decreased less than $0.1 billion to $10.0 billion and imports increased $5.3 billion to $24.7 billion.
- The deficit with Ireland decreased $2.7 billion to $2.6 billion in July. Exports increased $0.4 billion to $1.7 billion and imports decreased $2.4 billion to $4.3 billion.
Goods and Services by Selected Countries and Areas: Quarterly – Balance of Payments Basis (exhibit 20)
Statistics on trade in goods and services by country and area are only available quarterly, with a one-month lag. With this release, second-quarter figures are now available.
The second-quarter figures show surpluses, in billions of dollars, with Netherlands ($21.1), Switzerland ($14.8), South and Central America ($14.0), Hong Kong ($12.9), United Kingdom ($11.5), Brazil ($9.0), Singapore ($8.6), Australia ($8.1), Saudi Arabia ($4.4), Belgium ($1.1), and Canada ($0.9). Deficits were recorded, in billions of dollars, with Mexico ($46.5), Vietnam ($45.9), China ($34.5), Taiwan ($33.7), European Union ($24.9), Germany ($17.6), Japan ($17.0), India ($16.8), South Korea ($11.5), Ireland ($9.1), Italy ($8.5), Malaysia ($7.4), France ($4.9), and Israel ($0.8).
- The balance with Switzerland shifted from a deficit of $51.9 billion in the first quarter to a surplus of $14.8 billion in the second quarter. Exports increased $13.1 billion to $36.5 billion and imports decreased $53.6 billion to $21.7 billion.
- The deficit with the European Union decreased $51.7 billion to $24.9 billion in the second quarter. Exports increased $6.7 billion to $184.2 billion and imports decreased $45.0 billion to $209.1 billion.
- The deficit with Taiwan increased $8.3 billion to $33.7 billion in the second quarter. Exports increased $1.6 billion to $17.4 billion and imports increased $9.9 billion to $51.1 billion.
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, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.
Next release: October 7, 2025, at 8:30 a.m. EDT
U.S. International Trade in Goods and Services, August 2025
