July 2011 International Trade

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According to data compiled by the Netherlands Bureau for Economic Policy Analysis, world trade volume increased by 0.8 percent in July from the previous month, following a revised decline of 2.0 percent in June. The overall picture in July was one of rising trade volumes in advanced economies and declines in emerging ones, the main exceptions being a strong rebound of exports from emerging Asia and a continued decline of imports into the United States. In Japan, export growth stalled, but import growth picked up.

Prices slipped 0.6 percent between June and July, but remained 26.2 percent above their February 2009 low.
 

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The U.S. goods and services deficit shrank by 13.2 percent (to $44.8 billion) in July. Exports totaled $178.0 billion (up from $170.9 billion in June), while imports totaled $222.8 billion (down from $223.9 billion).
 

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Paper exports decreased by 57,000 tons (1.8 percent) in July, while imports shrank by 6,000 tons (1.6 percent). Exports remained 170,000 tons (5.7 percent) above year-earlier levels, and imports were 22,000 tons (6.1 percent) higher.
 

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Softwood lumber exports fell by 5 MMBF (3.1 percent) in July while imports advanced by 32 MMBF (4.2 percent). Exports were 30 MMBF (26.9 percent) higher than year-earlier levels, but imports were 30 MMBF (3.7 percent) lower.