The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.3 billion in July, up $19.2 billion from $59.1 billion in June, revised.

July exports were $280.5 billion, $0.8 billion more than June exports. July imports were $358.8 billion, $20.0 billion more than June imports.

The July increase in the goods and services deficit reflected an increase in the goods deficit of $18.2 billion to $103.9 billion and a decrease in the services surplus of $1.1 billion to $25.6 billion.

Year-to-date, the goods and services deficit increased $154.3 billion, or 30.9 percent, from the same period in 2024. Exports increased $103.1 billion or 5.5 percent. Imports increased $257.5 billion or 10.9 percent.