WASHINGTON — In what could signal a turning point for our nation’s economy and good news for the wood products industry, the U.S. Commerce Department reports that the international trade deficit in goods and services decreased to $42.8 billion in July from $49.8 billion (revised) in June, as exports increased and imports decreased.
Exports of goods and services in July rose 1.8% to $153.3 billion, while imports decreased 2.1% down to $196.1 billion. According to the Commerce Department, seasonally adjusted July exports of capital goods — $38.8 billion — were the highest in two years, while the $52.2 billion exports of other goods, which includes consumer goods, were the highest on record.
In the woodworking sector, exports of furniture, household goods, etc. dropped $4 million in July, to $315 million and exports of manufactured wood supplies decreased $3 million, to $97 million, while exports of logs and lumber jumped $33 million to $438 million, and pulpwood rose $86 million to $794 million for July.
Seasonally adjusted imports of furniture/household goods dropped $83 million July, to $2.1 billion. Lumber imports also decreased in July to $266 million from $341 million in June. Plywood and veneers imports rose slightly to $198 million in July, while pulpwood also recorded a July, to $392 million from $332 million in June.
/ccmsdocuments/Woodworking-Network/Census Bureau foreign trade 7-2010.pdf
Have something to say? Share your thoughts with us in the comments below.