The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $70.4 billion in August, down $8.5 billion from $78.9 billion in July, revised.
The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $8.4 billion to $94.9 billion and an increase in the services surplus of $0.1 billion to $24.4 billion.
August exports were $271.8 billion, $5.3 billion more than July exports. August imports were $342.2 billion, $3.2 billion less than July imports.
The average goods and services deficit decreased $1.6 billion to $74.1 billion for the three months ending in August. Year-over-year, the average goods and services deficit increased $11.1 billion from the three months ending in August 2023.
Read the Census release.