In July, the United States ran a total trade deficit of
$88.58 billion.
The trade deficit is up $17.39 billion from June.
The trade deficit is 43 percent above the 12-month average.
In trade of goods, the U.S. ran a trade deficit of $119.59
billion, up $17.62 billion from June and 31 percent above the
12-month average.
In trade of services, the U.S. ran a trade surplus of $31.02
billion, up $225 million from June and 5 percent above the
12-month average.
Total exports was $310.72 billion, down $6.61
billion from June and 2 percent above the 12-month average.
Total exports of goods was $201.04 billion, down
$6.21 billion from June.
Total exports of services was $109.69 billion, down
$399 million from June.
Total imports was $399.30 billion, up $10.78
billion from June and 9 percent above the 12-month average.
Total imports of goods was $320.63 billion, up
$11.41 billion from June.
Total imports of services was $78.67 billion, down
$624 million from June.
From July 2025 to July 2026:
Over the 12 months through July 2026, the U.S. ran a total trade
deficit of $743.58 billion.
In trade of goods, the U.S. ran a trade deficit of $1.10
trillion.
In trade of services, the U.S. ran a trade surplus of
$353.73 billion.
Total exports was $3.67 trillion.
Total exports of goods was $2.38 trillion.
Total exports of services was $1.29 trillion.
Total imports was $4.41 trillion.
Total imports of goods was $3.48 trillion.
Total imports of services was $932.19 billion.
Table 1. Trade balance
Jul 2026
Jul 2025
Y/Y difference
12-month average
Past 12 months
Goods
Exports
$201.04B
$179.32B
12.11%
$198.43B
$2.38T
– Imports
$320.63B
$281.96B
13.71%
$289.87B
$3.48T
Goods trade balance
-$119.59B
-$102.64B
16.51%
-$91.44B
-$1.10T
Services
Exports
$109.69B
$104.85B
4.61%
$107.16B
$1.29T
– Imports
$78.67B
$77.27B
1.81%
$77.68B
$932.19B
Services trade balance
$31.02B
$27.58B
12.45%
$29.48B
$353.73B
Total
Exports
$310.72B
$284.17B
9.34%
$305.59B
$3.67T
– Imports
$399.30B
$359.24B
11.15%
$367.55B
$4.41T
Total trade balance
-$88.58B
-$75.06B
18.00%
-$61.96B
-$743.58B
Census basis
The Bureau of Economic Analysis adjusted the July 2026 Census basis
figures for goods exports by about 0.01 percent, and for goods imports
by about 0.01 percent. See the Notes section for more information about
these adjustments. This section reports the trade figures for
goods as collected by the U.S. Census Bureau without
adjustment unless specified otherwise.
Over the 12 months through July 2026, the U.S. had the largest
goods trade deficits with:
Vietnam, with net exports of -$219.12 billion,
20.39 percent of the total goods trade deficit.
Mexico, with net exports of -$213.35 billion, 19.85
percent of the total goods trade deficit.
Taiwan, with net exports of -$203.67 billion, 18.95
percent of the total goods trade deficit.
Over the 12 months through July 2026, the U.S. had the largest
goods trade surpluses with:
Netherlands, with net exports of $79.74 billion,
-7.42 percent of the total goods trade deficit.
United Kingdom, with net exports of $45.12 billion,
-4.20 percent of the total goods trade deficit.
Hong Kong, with net exports of $43.90 billion,
-4.08 percent of the total goods trade deficit.