The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.8 billion in July, up $5.8 billion from $73.0 billion in June, revised.

July exports were $266.6 billion, $1.3 billion more than June exports. July imports were $345.4 billion, $7.1 billion more than June imports.

The July increase in the goods and services deficit reflected an increase in the goods deficit of $5.6 billion to $103.1 billion and a decrease in the services surplus of $0.2 billion to $24.3 billion.

Year-to-date, the goods and services deficit increased $36.2 billion, or 7.7 percent, from the same period in 2023. Exports increased $65.9 billion or 3.7 percent. Imports increased $102.1 billion or 4.5 percent.