2017 Economic Calendar
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International Trade  
Released On 8/4/2017 8:30:00 AM For Jun, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Trade Balance Level$-46.5 B$-46.4 B$-44.4 B$-47.0 B to $-43.7 B$-43.6 B

Highlights
At $43.6 billion, the nation's trade deficit came in below Econoday's consensus for $44.4 billion which will prove a plus for second-quarter GDP revisions. The goods gap fell 3.2 percent to $65.3 billion (vs the advance reading of $63.9 billion) while the services surplus, which is the economy's special strength, rose 2.9 percent to $21.6 billion.

Exports show a bounce higher for capital goods despite a dip in aircraft. Exports of cars and food were also strong offsetting a decline for consumer goods. Imports of industrial supplies and within this crude oil fell as did imports of consumer goods. This helped offset a sharp rise in car imports. Imports of capital goods were flat.

The trade gap with China widened nearly $1 billion in June to $32.6 billion and narrowed slightly with the EU to $12.5 billion. The gap with Japan also narrowed slightly, to $5.6 billion, and narrowed sharply with Mexico, by $1.3 billion to $6.0 billion. The gap with Canada also narrowed, to $0.6 billion.

Except for the widening with China and weakness in consumer-goods exports, this is a positive report showing that cross-border trade ended the quarter with solid improvement.

Recent History Of This Indicator
Forecasters see the international trade gap for goods and services narrowing to a consensus $44.4 billion in June from $46.5 billion in May. This would be in line with advance data on the goods part of this report which, reflecting strong May exports, narrowed sharply.

Definition
International trade is composed of merchandise (tangible goods) and services. It is available nationally by export, import and trade balance. Merchandise trade is available by export, import and trade balance for six principal end-use commodity categories and for more than one hundred principal Standard International Trade Classification (SITC) system commodity groupings. Data are also available for 36 countries and geographic regions. Detailed information is reported on oil and motor vehicle imports. Services trade is available by export, import and trade balance for seven principal end-use categories.  Why Investors Care
 
[Chart]
Exports grow when foreign economies are strong. The weaker the foreign exchange value of the dollar, the less expensive goods and services are to foreigners, and this also helps spurt export activity. Imports grow when U.S. economic growth is robust. Imports are also spurred by a strong foreign exchange value of the dollar.
Data Source: Haver Analytics
 
[Chart]
The international trade balance has posted a deficit almost continuously since the 1980s. Any trade deficit is a drag on U.S. GDP growth, but a smaller deficit adds to growth, while a larger deficit decreases GDP growth.
Data Source: Haver Analytics
 
 

2017 Release Schedule
Released On: 1/62/73/74/45/46/27/68/49/610/511/312/5
Release For: NovDecJanFebMarAprMayJunJulAugSepOct
 


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