US Trade Deficit Jumps to 6 Month High


The U.S. trade deficit increased to a six-month high of USD35.2 billion in August as exports dropped further amid declining soybean shipments and imports hit a record high amid stronger demand for cars, industrial supplies and petroleum.

Exports of goods and services fell 0.8 per cent to $209.4 billion in August. Soybean exports dropped $1.0 billion and shipments of crude oil fell $0.9 billion. 

Imports of goods and services increased 0.6 per cent to a record $262.7 billion in August. They were boosted by imports of motor vehicles, which were the highest on record, and cellphones. There were also increases in petroleum imports.

The August increase in the goods and services deficit reflected an increase in the goods deficit of $3.6 billion to $76.7 billion and an increase in the services surplus of $0.4 billion to $23.5 billion. The politically sensitive goods trade deficit with China surged 4.7 per cent to a record high of $38.6 billion.

Year-to-date, the goods and services deficit increased $31.0 billion, or 8.6 percent, from the same period in 2017. Exports increased $129.6 billion or 8.4 percent. Imports increased $160.6 billion or 8.4 percent.



US Trade Deficit Jumps to 6 Month High


Anna | anna@tradingeconomics.com
10/5/2018 12:55:14 PM