International Trade Balance Widened in August

The international trade deficit widened in August to $40.7 billion, an increase of $1.2 billion from July according to the U.S. Census Bureau and the Bureau of Economic Analysis. The widening reflected a $2.7 billion increase in imports, which was partially offset by a $1.5 billion increase in exports.

The goods deficit decreased less than $0.1 billion to $60.3 billion, while the services surplus decreased $1.2 billion to $19.6 billion.

Exports of goods increased $1.2 billion to $125.3 billion in August, driven largely by industrial supplies and materials. Exports of services increased $0.3 billion to $62.5 billion in August.

Imports of goods increased $1.1 billion to $185.6 billion, mostly due to an increase in capital goods imports such as civilian aircraft and telecommunications equipment. In contrast, imports of industrial supplies and materials declined by $0.8 billion.

Read the Census/BEA release.

About Tim Nicholson

Tim Nicholson
Tim Nicholson is an economic research associate at ABA.
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