The gap between imports and exports expanded in July, as the nation's exports continue to decline, imports grew.
In July U.S. trade gap soared by 8.1 % , reported by the Commerce Department. The widening trade deficit will likely be a net drag on GDP, with persisting weakness in exports, increasing oil imports may signal healthy economic activity, but they also widen the trade deficit, as the trade gap subtracts from the GDP growth, economists noted.

International Trade (Picture Autor: Maurice Marcellin) licence Creative Commons

Economists were fairly certain the deficit was going to widen in July because the price of imported oil has skyrocketed, but the gain in imports was much broader than energy.

Imports from China, meanwhile, climbed to $47.1 billion in July from $44.6 billion in June. The trade deficit with the rising Asian giant increased $3.35 billion to $-36.8 billion in July. Country data are not seasonally adjusted.

Lawmakers and some business executives say China keeps its currency artifically low to boosts its exports.
• Imports of Crude Oil

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Industrial Supplies		Consumer Goods		Military sales		Private Services
1.10%	0.42%	-1.45%	-2.37%	-8.57%	1.78%	-2.53%	-4.68%
*Imports*	Exports	Imports	Exports	Imports	Exports	Imports	Exports

Imports increased by 0.38 % in July to $261.2 billion, reported by the Commerce Department, led by 7.76 % growth in miscellaneous other goods and Travel services, which accounted for 0.25 % of total imports. Bucking the overall trend, imports of Consumer goods, Royalties and License Fees.

Some of the pick-up in imports could be attributed to higher prices. Unfavorable exchange rate, tends to boost the cost of imported goods.

The bulk of the increase in imports was tied to the higher cost of oil, whose price hit a recent peak. The cost per barrel was 49.61 % higher compared with a year earlier.
As a result, imports of crude oil and related petroleum products jumped to a seasonally adjusted $20.7 billion in July from $19.3 billion in June. Imports of services have declined by -1.9 %, but they accounted only for 18.1 %, of total imports in July. Purcheses of foreign made goods, grew by 0.9 %. • U.S. Exports by Major Category

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Imports from europe increased, as demand for oil and other energy-related products from Norway grew the most, up 21.04 %, but imports from Finland fell by -14.26 %. Imports from Mexico and Canada where lower in July. Pacific Rim Region has seen increasing demand from the U.S., led by 13.95 % increase in imports from Australia, while the demand for goods from Hong Kong fell. From July 2017, U.S. trade gap jumped by 14.6 %, due to 9.70 % increase in imports. In July exports decreased by -1.28 % to $211.1 billion, following miscellaneous other goods decline by -8.46 %, Royalties and License Fees. Exports of Nuclear Technology also fell -41.57 % to $0.05 billions. Opposite to overall trend, exports of Cars, parts, engines and , surged. Exports of Flexible Manufacturing grew as well, increasing 2.85 % to $1.73 billions. Economists are concerned that slowing demand from Europe may dampen U.S. export growth. The decline of exports was broad based, services fell -0.45 % and exports of goods declined by -1.69 %. Sales of U.S. made goods, improved in the Pacific Rim Region, led by 13.95 % increase in exports to Australia and despite the decrease in demand for U.S. made goods, from Hong Kong. Exports to europe fell, as demand for U.S. made goods in Poland declined, but trade with Norway grew by 12.11 %. In another good sign, sales to South and Central American countries were up, despite the declining exports to Brazil, americas major trading partner in the region. • U.S. Imports by Major Countries
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Technology Group Exports	Technology Group Imports	Technology Group Trade Balance
Total Technology Group exports deacreased by $4,724 millions or -14.36 % to $28,167 millions from June 2018 , caused by decrease in exports of Aerospace goods by -25.26 % to $9,863 millions from June 2018. Exports of Information and Communication goods fell by $4,724 millions or -2.57 % to $8,034 millions.	Total Technology Group imports deacreased by $0 millions or 0.00 % to $37,240 millions from June 2018 , despite a decrease in imports of Electronics goods by 0.00 % to $3,163 millions from June 2018. Imports of Information and Communication goods fell by $0 millions or 0.00 % to $20,951 millions. • Imports by Technology Group	Total Technology Group trade deficit rose by $3,916 millions or 42.31 % to $13,172 millions from deficit of $9,256 millions June 2018. Information and Communications trade deficit rose by $414 millions or 2.96 % to $14,394 millions from deficit of $13,980 millions June 2018. • Trade Balance by Technology Group

U.S. International Trade in Goods & Services

(In millions $)

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U.S. International Trade in Goods & Services (In millions $)	July 2018	June 2018	May 2018	April 2018	March 2018	Feb. 2018
Total Trade Balance	-50,082	-46,348	-43,053	-46,199	-48,956	-57,591
Trade Balance of Goods	-73,144	-68,813	-65,787	-68,265	-69,494	-77,011
Trade Balance of Services	23,062	22,465	22,735	22,066	20,539	19,419
Total Exports	211,077	213,809	215,328	211,245	208,526	204,445
Exports of Goods	140,791	143,208	144,888	141,248	140,878	137,179
Exports of Services	70,286	70,602	70,440	69,998	67,648	67,266
Total Imports	261,159	260,158	258,381	257,444	257,482	262,037
Imports of Goods	213,935	212,021	210,675	209,513	210,372	214,190
Imports of Services	47,224	48,137	47,706	47,931	47,110	47,847

U.S. Trade Balance by Selected Countries and Areas

( In millions $)

U.S. Trade Balance by Selected Countries and Areas ( In millions $)	July 2018	June 2018	May 2018	April 2018	March 2018	Feb. 2018
Total Goods	-84,466	-68,479	-73,099	-68,482	-60,359	-60,679
North America	-8,690	-9,461	-8,215	-6,437	-7,747	-6,449
Canada	-3,149	-2,041	-1,501	-785	306	-386
Mexico	-5,541	-7,419	-6,715	-5,652	-8,053	-6,063
Europe	-21,035	-15,048	-16,276	-17,826	-14,602	-13,581
European Union	-17,589	-11,724	-13,387	-14,642	-12,146	-12,047
Austria	-853	-837	-630	-866	-1,002	-597
Belgium	872	1,350	1,135	1,424	1,404	1,277
Czech Republic	-198	-172	-78	-174	-168	-170
Finland	-388	-453	-431	-464	-565	-435
France	-1,843	-591	-1,278	-1,627	-1,586	-1,251
Germany	-6,612	-5,339	-5,717	-5,994	-5,170	-5,351
Hungary	-327	-288	-300	-257	-293	-242
Ireland	-4,189	-4,033	-3,281	-3,972	-4,023	-3,651
Italy	-3,110	-2,283	-2,829	-2,538	-2,251	-2,384
Netherlands	2,028	2,533	2,177	2,060	2,349	2,284
Poland	-326	-14	-30	-325	30	-212
Spain	-636	-452	-369	-654	-359	-426
Sweden	-621	-643	-802	-709	-762	-501
United Kingdom	62	754	651	757	1,598	656
Other E.U.	-1,449	-1,256	-1,605	-1,306	-1,348	-1,045
Norway	-270	-195	72	-328	-365	102
Russia	-1,398	-1,333	-1,404	-723	-1,217	-693
Switzerland	-1,703	-1,677	-1,659	-2,332	-1,108	-1,168
Other Europe	-75	-118	101	199	235	225
Euro Area	-15,555	-10,749	-12,035	-13,284	-11,834	-10,926
Pacific Rim Countries	-45,528	-40,138	-41,795	-36,940	-32,636	-34,838
Australia	1,135	1,555	1,276	1,273	1,268	1,354
China	-36,834	-33,484	-33,187	-27,962	-25,875	-29,262
Japan	-5,460	-5,308	-5,492	-6,285	-6,386	-5,503
Malaysia	-2,051	-2,086	-2,588	-2,293	-2,038	-2,124
Philippines	-334	-262	-271	-252	-330	-289
Newly Industrialized Countries (NICS)	-8,679	-5,813	-9,191	-7,938	-7,208	-6,578
Hong Kong	2,002	2,891	2,274	1,855	3,241	3,583
Korea	-1,527	-1,208	-1,803	-1,617	-1,080	-683
Singapore	-121	22	777	594	603	597
Taiwan	-1,232	-1,388	-1,536	-1,116	-1,033	-1,312
Other Pacific Rim	-86	40	-42	32	-11	-48
South/Central America	2,703	3,558	3,668	3,998	3,551	3,055
Argentina	510	444	504	412	339	275
Brazil	577	718	892	626	942	971
Chile	388	308	514	176	-70	-75
Colombia	93	255	-92	322	44	-300
Other South/Central America	1,135	1,832	1,850	2,461	2,296	2,185
OPEC	-3,464	-1,804	-701	-3,243	-768	-1,367
Indonesia	-1,021	-909	-1,203	-1,167	-994	-1,151
Nigeria	5	-305	-341	-437	-71	-489
Saudi Arabia	-1,065	-906	-167	-958	-51	-280
Venezuela	-692	-713	-463	-765	-406	-292
Other OPEC	-1,712	120	270	-1,083	-239	-307
Africa	-1,080	-671	-923	-1,345	-652	-896
Algeria	-446	-107	-232	-365	-177	-279
Egypt	146	215	338	225	274	278
South Africa	-189	-224	-261	-209	-194	-172
Other Africa	-590	-555	-767	-997	-556	-724
Other Countries	-8,679	-5,813	-9,191	-7,938	-7,208	-6,578
India	-2,008	-1,122	-2,452	-2,383	-1,443	-1,677
Thailand	-1,792	-1,489	-1,743	-1,691	-1,559	-1,328
Other	-4,879	-3,201	-4,997	-3,864	-4,206	-3,572

U.S. Imports by Major Category

( In millions $)

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Imports by Major Category ( In millions $)	July 2018	June 2018	May 2018	April 2018	March 2018	Feb. 2018
Total	261,159	260,158	258,381	257,444	257,482	262,037
Total Services	47,224	48,137	47,706	47,931	47,110	47,847
Travel	662	654	665	669	665	651
Passenger Fares	8,847	8,823	8,834	8,948	8,875	8,957
Other Transportation	11,996	11,896	11,720	11,944	11,487	11,268
Royalties and License Fees	3,056	3,920	3,941	3,969	4,342	4,323
Other Private Services	2,616	2,684	2,700	2,685	2,497	2,521
Transfers Under U.S. Military Sales Contracts	4,814	5,265	4,988	4,934	4,286	5,235
U.S. Government Misc. Services	3,467	3,566	3,557	3,539	3,547	3,535
Total Goods	213,935	212,021	210,675	209,513	210,372	214,190
Foods, feeds, and beverages	12,440	12,175	12,378	12,274	12,227	12,643
Industrial supplies and materials	49,289	48,751	47,853	47,901	47,330	48,091
Capital goods, except automotive	58,159	57,494	58,980	56,916	56,215	57,782
Automotive vehicles, parts, and engines	30,710	30,211	29,728	30,003	31,301	31,088
Consumer goods	52,618	53,390	51,423	51,895	54,216	55,122
Other goods	9,030	8,380	8,560	8,972	7,566	7,822

Exports by Technology Group

( In millions $)

Exports by Technology Group ( In millions $)	July 2018	June 2018	May 2018	April 2018	March 2018	Feb. 2018
Total Technology Group	28,167	32,891	32,215	28,473	34,853	26,019
Advanced Materials	261	260	252	243	259	217
Aerospace	9,863	13,196	12,728	9,723	14,021	9,115
Biotechnology	1,513	1,902	2,175	1,619	2,090	1,441
Electronics	3,660	3,881	3,872	3,777	4,010	3,417
Flexible Manufacturing	1,730	1,682	1,734	2,014	2,252	1,642
Information and Communications	8,034	8,246	7,531	7,807	8,443	7,149
Life Science	2,401	2,788	2,471	2,491	2,921	2,371
Nuclear Technology	52	89	50	128	84	40
Opto-Electronics	450	531	462	443	524	428
Weapons	202	317	938	229	251	199

Annual Report on U.S. International Trade in Goods & Services

(In millions $)

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U.S. International Trade in Goods & Services (In millions $)	2017	2016	2015	2014	2013	2012
Total Trade Balance	-566,031	-504,793	-531,503	-471,532	-471,532	-540,362
Trade Balance of Goods	-810,023	-752,507	-758,934	-703,159	-703,159	-735,702
Trade Balance of Services	243,993	247,714	227,431	231,627	231,627	195,341
Total Exports	2,329,311	2,208,072	2,230,317	2,272,320	2,272,320	2,195,925
Exports of Goods	1,551,434	1,455,704	1,513,888	1,590,350	1,590,350	1,563,578
Exports of Services	777,877	752,368	716,429	681,970	681,970	632,346
Total Imports	2,895,342	2,712,866	2,761,820	2,743,851	2,743,851	2,736,286
Imports of Goods	2,361,458	2,208,211	2,272,821	2,293,508	2,293,508	2,299,281
Imports of Services	533,884	504,654	488,999	450,343	450,343	437,005

• Source U.S. Department of Commerce, BEA.gov
Picture Autor: (Maurice Marcellin) licence Creative Commons.

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