U.S. Trade Deficit Unchanged in August


Total August exports of $177.6 billion and imports of $223.2 billion resulted in a goods and services deficit of $45.6 billion, virtually unchanged from July, revised. August exports were $0.1 billion less than July exports of $177.7 billion. August imports were $0.1 billion less than July imports of $223.3 billion.

Exports of goods from July to August were virtually unchanged. Increases occurred in industrial supplies and materials ($0.8 billion); consumer goods ($0.2 billion); foods, feeds, and beverages ($0.2 billion); and other goods ($0.1 billion). Decreases occurred in automotive vehicles, parts, and engines ($1.0 billion) and capital goods ($0.4 billion).

The July to August increase in imports of goods reflected increases in industrial supplies and materials ($0.9 billion); other goods ($0.9 billion); and foods, feeds, and beverages ($0.1 billion). Decreases occurred in consumer goods ($0.8 billion); automotive vehicles, parts, and engines ($0.7 billion); and capital goods ($0.3 billion).

Exports of services were virtually unchanged from July to August. An increase in other private services (which includes items such as business, professional, and technical services, insurance services, and financial services) was offset by a decrease in travel.  Changes in the other categories of services exports were small and offsetting.

Imports of services decreased $0.2 billion from July to August. The decrease was more than accounted for by decreases in travel, other transportation (which includes freight and port services), and passenger fares. An increase in other private services was partly offsetting. Changes in the other categories of services imports were small.

The August figures show surpluses, in billions of dollars, with Hong Kong $2.4 ($2.3 for July), Australia $1.4 ($1.7), Singapore $1.0 ($1.2), and Egypt $0.4 ($0.4).  Deficits were recorded, in billions of dollars, with China $29.0 ($27.0), OPEC $13.3 ($11.9), European Union $9.0 ($8.9), Japan $6.7 ($5.2), Mexico $5.5 ($4.9), Germany $4.5 ($4.2), Venezuela $3.0 ($2.6), Nigeria $3.0 ($2.8), Ireland $2.9 ($2.7), Canada $2.4 ($3.3), Taiwan $1.6 ($1.6), and Korea $0.7 ($1.4).


TradingEconomics.com, US Bureau of Economic Analysis
10/13/2011 1:42:02 PM