In July 2013, U.S. trade balance resulted in a deficit of U$39.1 billion which represents 13% more deficit from June 2013, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis reported today September 4th 2013. United States’ exports for the month of July decreased $1.1 billion compared with June of the same year. “In July, the goods deficit increased $4.5 billion from June to $58.6 billion, and the services surplus decreased $0.1 billion from June to $19.4 billion” (BEA, 2013).
The biggest loss in exports for July 2013 was on Consumer goods (-8.2% drop), which represents basically manufactured and final goods -furniture, footwear, cell phones, televisions and video equipment are all examples of consumer goods. Capital goods also decreased exports by 3.5%. Otherwise, food and beverage products went up by 4.0% as well as industrial supplies which grew roughly the same amount. Automobile sales oversees still go down since May 2013 (June -3.4% and July -1.4%).
On the side of imports, industrial supplies increased by U$1,987 million from June to July of the current year. Among the most imported products for July are fuel oil which increased imports by 28.9% compared to June (Crude oil 6.1%); blank tapes audio and video material increased 14.3% from June also; sulfur, non-metallic minerals 11.9%. Imports that decreased substantially from June were cotton and natural fibers with a drop of -33.3%; hides and skins with a 30.0%; Zinc -15.5% and liquefied petroleum gases.
Imports of automobile vehicles increased by 3.1%, while computers decreased -3.4% and semiconductors increased 5.4%. Telecommunication equipment’s imports also increased for July by 3.1%. On food related products, oils’ imports went up by 10.6% and cocoa beans by 25.9%. Sugar cane imports dropped -10% for July 2013.
More information can be found in the following link: http://www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm