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US Trade Deficit Expands to $78.3 Billion in July

Commerce Department data shows the US goods and services trade gap widened nearly 33% from June, reaching its highest level in four months.

Summary

The US trade deficit widened to a four-month high in July, with the goods and services gap increasing by nearly 33% from the previous month to $78.3 billion, according to Commerce Department figures released Thursday.

Terms & Concepts
  • Trade Deficit: The shortfall that occurs when a country’s imports of goods and services exceed its exports.
  • Commerce Department Data: Official economic statistics and reports released by the U.S. Department of Commerce, covering trade, industry, and economic performance.