Overseas Merchandise Trade: July 2011

For the month of July 2011 compared with July 2010:

• Merchandise exports were up $166 million (4.7 percent) to $3.7 billion.
• Milk powder, butter, and cheese had the largest increase, up $72 million.
• Merchandise imports were down $149 million (4.0 percent) to $3.6 billion.
• The decrease in imports was led by petroleum and products, down $97 million.
• There was a trade surplus of $129 million – the first July surplus since 1991.
• The trend for exports has increased 30 percent since the most recent low point in October 2009 and continues to reach new highs.
• The trend for imports has increased 20 percent since the most recent low point in September 2009, but is still 9.9 percent below its overall peak in September 2008.