WASHINGTON (Dow Jones) – The deficit in trade between the U.S. shrank in July as clear as for 17 months, not more. How the U.S. Commerce Department reported on Thursday , the trade deficit narrowed to 42.78 billion , according to preliminary calculations of revised 49.76 USD (preliminary : 49.90 ) billion USD. (Photo : Buccino )
Therefore, the deficit was lower than expected from Dow Jones Newswires had expected a consensus of economists surveyed forecast a deficit of 47 billion USD.
On the financial and foreign exchange markets , the deficit in U.S. trade and current account is followed with great attention. To finance the deficits , the U.S. needs massive capital inflows from abroad. Should these inflows fail , a devaluation threatens with appropriate consequences for the world economy.
Exports had indicated that in July an increase of 1.8% to 153.33 ( revised June : at 150.57 ) billion USD, which was the highest level recorded since August 2008. Imports fell by 2.1 % to 196.11 on the other hand ( 200.33 ) billion USD.
The real U.S. trade deficit, which economists use to assess the impact of foreign trade on GDP , declined in July at 47.69 billion USD, the outstanding balance for June was 53.62 billion USD to quantify .
paid for oil imports to the USA in July 22.47 billion USD, USD 22.6 billion in the previous month , which was mainly due to the lower oil price. The average price of a barrel of oil fell by $ 0.35 to $ 72.09 . In addition, the volume of oil imports fell slightly to 311.72 million barrels from the 311.93 million barrels the previous month.
Particularly clear in July put the claims to the export of aircraft to . Exports of capital goods climbed to 2.26 billion USD, which was due to more than half, to the sharp increase in foreign demand for aircraft. The motor vehicle exports fell , however , as exports of consumer goods.
In bilateral trade, the U.S. deficit with China in July to 25.92 billion USD to 26.15 billion USD fell in June. This , however , imports from China increased by 393 million USD to 33.26 million USD , and thus to the highest level since October 2008. Exports increased by 630 million USD to 7.35 billion USD.
Compared with Japan was a deficit of 4.95 (June : 5.25 ) billion USD recorded. The trade deficit with Canada fell to 1.40 (2.51 ) billion USD , and posted its lowest level since May 2009. Compared to Mexico , the deficit fell to 5.34 ( 6.21) billion.
By contrast , the deficit widened in foreign trade with the euro area jumped from 8.16 to (6.10 ) billion USD. In trade with Germany, a U.S. deficit of 3.60 (minus 3.01) billion USD was announced, which was the highest level recorded since July 2008.
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