U.S. International Trade Balance Widened in August

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $67.1 billion in August, up $3.7 billion from $63.4 billion in July, revised.

The August increase in the goods and services deficit reflected an increase in the goods deficit of $3.0 billion to $83.9 billion and a decrease in the services surplus of $0.7 billion to $16.8 billion.

August exports were $165.2 billion, $10.0 billion more than July exports. August imports were $226.6 billion, $13.1 billion more than July imports.

The average goods and services deficit increased $3.1 billion to $61.3 billion for the three months ending in August. Year-over-year, the average goods and services deficit increased $6.9 billion from the three months ending in August 2019.

Year-to-date, the goods and services deficit increased $22.6 billion, or 5.7%, from the same period in 2019. Exports decreased $296.1 billion or 17.6%. Imports decreased $273.5 billion or 13.1%.

Read the Census/BEA release.

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