July 2015 International Trade (General)

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The goods and services deficit was $41.9 billion in July, down $3.3 billion from $45.2 billion in June. July exports were $188.5 billion, $0.8 billion more than June exports. July imports were $230.4 billion, $2.5 billion less than June imports. The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $3.4 billion to $61.4 billion and a decrease in the services surplus of less than $0.1 billion to $19.6 billion.

Year-to-date, the goods and services deficit increased $10.6 billion, or 3.6 percent, from the same period in 2014. Exports decreased $47.0 billion or 3.5 percent. Imports decreased $36.4 billion or 2.2 percent.

Year-over-year, the average goods and services deficit increased $1.3 billion from the three months ending in July 2014.
* Average exports of goods and services decreased $8.6 billion from July 2014.
* Average imports of goods and services decreased $7.3 billion from July 2014.

Goods by Selected Countries and Areas: Monthly – Census Basis

The July figures show surpluses, in billions of dollars, with South and Central America ($2.6), OPEC ($0.7), United Kingdom ($0.3), and Brazil ($0.2).  Deficits were recorded, in billions of dollars, with China ($28.8), European Union ($12.4), Germany ($6.0), Japan ($5.4), Mexico ($3.8), Italy ($2.3), South Korea ($2.2), Canada ($2.1), India ($2.0), France ($1.1), and Saudi Arabia ($0.5).

Goods and Services by Selected Countries and Areas: Quarterly – Balance of Payments Basis

The second quarter figures show surpluses, in billions of dollars, with South and Central America ($17.3), Brazil ($7.3), OPEC ($6.8), Canada ($1.8), United Kingdom ($1.3), and Saudi Arabia ($0.8). Deficits were recorded, in billions of dollars, with China ($79.6), European Union ($28.5), Germany ($19.6), Japan ($14.2), Mexico ($13.6), Italy ($7.8), India ($7.2), France ($4.2), and South Korea ($4.1). 

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On a global scale, data compiled by the Netherlands Bureau for Economic Policy Analysis showed that world trade volume expanded by 2.0% in June (+2.6% year-over-year) while prices rose by 0.6% (-12.7% YoY).

The foregoing comments represent the general economic views and analysis of Delphi Advisors, and are provided solely for the purpose of information, instruction and discourse. They do not constitute a solicitation or recommendation regarding any investment.