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U.S. International Trade in Goods and Services
August 2014 Highlights for Congress


U.S. Census Bureau and U.S. Bureau of Economic Analysis - Economics and Statistics Administration - U.S. Department of Commerce

Click here for the downloadable version of the Congressional Highlights (PDF)

Goods and Services Deficit Decreased in August 2014
(Seasonally Adjusted)

The Nation’s international trade deficit in goods and services decreased to $40.1 billion in August from $40.3 billion in July (revised), as exports increased more than imports.

GOODS AND SERVICES

  • Exports increased to $198.5 billion in August from $198.0 billion in July. Goods were $138.8 billion in August, up from $138.8 billion in July. Services were $59.6 billion in August, up from $59.3 billion in July.

  • Imports increased to $238.6 billion in August from $238.3 billion in July. Goods were $198.7 billion in August, up from $198.6 billion in July. Services were $39.9 billion in August, up from $39.8 billion in July.
  • For goods, the deficit was $59.9 billion in August, up from $59.8 billion in July. For services, the surplus was $19.8 billion in August, up from $19.5 billion in July.

Trade in Goods and Services (Billions of Dollars)

Trade in Goods and Services (Billions of Dollars)

GOODS BY CATEGORY (CENSUS BASIS)

The July to August increase in exports of goods reflected increases in capital goods ($1.0 billion); consumer goods ($0.8 billion); industrial supplies and materials ($0.7 billion); and other goods ($0.4 billion). Decreases occurred in automotive vehicles, parts, and engines ($1.7 billion) and foods, feeds, and beverages ($0.6 billion). 
TOP INCREASES FOR EXPORTS OF CAPITAL GOODS
(Billions of Dollars)Top Increases for Exports of Automotive Vehicles, Parts, and Engines (Billions of Dollars)
The July to August increase in imports of goods reflected increases in capital goods ($1.8 billion) and consumer goods ($0.7 billion). Decreases occurred in automotive vehicles, parts, and engines ($1.4 billion); other goods ($0.5 billion); foods, feeds, and beverages ($0.3 billion); and industrial supplies and materials ($0.2 billion).
TOP INCREASES FOR EXPORTS OF CAPITAL GOODS
(Billions of Dollars)Top Increases for Imports of Top Increases for Exports of Automotive Vehicles, Parts, and Engines (Billions of Dollars)

SERVICES BY CATEGORY

Exports of services increased $0.4 billion from July to August. The increase mostly reflected increases in transport ($0.2 billion), which includes freight and port services and passenger fares, and in travel (for all purposes including education) ($0.1 billion). Changes in the other categories of services exports were relatively small.

Imports of services increased $0.1 billion from July to August. The increase reflected increases in transport ($0.1 billion) and in other business services ($0.1 billion) that were partly offset by a decrease in charges for the use of intellectual property ($0.1 billion), which in July included payments for the rights to broadcast the 2014 soccer World Cup. Changes in the other categories of services imports were relatively small .


GOODS BY GEOGRAPHIC AREA
(Billions of Dollars, Not Seasonally Adjusted)

European Union

European Union

The goods deficit with the European Union decreased from $13.2 billion in July to $11.0 billion in August. Exports increased $0.2 billion (primarily fuel oil, pharmaceutical preparations, and passenger cars) to $23.6 billion, while imports decreased $2.1 billion (primarily fuel oil and gem diamonds) to $34.6 billion.

China

Canada

The goods deficit with China decreased from $30.9 billion in July to $30.2 billion in August. Exports increased $0.3 billion (primarily civilian aircraft, engines, and parts) to $9.6 billion, while imports decreased $0.3 billion (primarily computers and furniture) to $39.8 billion.

Germany

Mexico

The goods deficit with Germany increased from $6.4 billion in July to $7.1 billion in August. Exports increased $0.2 billion (primarily civilian aircraft, engines, and parts) to $4.2 billion, while imports increased $0.9 billion (primarily civilian aircraft, pharmaceutical preparations, and passenger cars) to $11.3 billion.


EXPORTS OF GOODS BY STATE
(Origin of Movement)

Top July to August Increases
(Millions of Dollars, Not Seasonally Adjusted)
State July Total August Total Change
New York
$6,016.0
$6,960.8
$944.8
California
13,850.7
14,546.6
695.9
Florida 4,731.4
5,521.2
519.8
South Carolina
2,267.9
2,744.1
476.2
Utah 704.2 1,173.5
469.3

Top July to August Decreases
(Millions of Dollars, Not Seasonally Adjusted)
State July Total August Total Change
Louisiana $4,829.3
$4.538.1
-$291.2
Indiana 3,302.5
3,045.9
-256.6
Massachusetts 2,288.2
2,075.8
-212.4
Michigan 4,661.5 4,457.8
-203.7
Tennessee 2,811.6
2,702.2
-109.4

TRADE IN CAPITAL GOODS, EXCEPT AUTOMOTIVE

(Billions of Dollars, Seasonally Adjusted)

TRADE IN CAPITAL GOODS, EXCEPT AUTOMOTIVE

This space is used to present information on events that significantly impact trade, to highlight new or annual statistics or record levels of trade, or to report on trade in automotive or petroleum products, in manufactured goods, or with Free Trade Agreement partners.



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Source: U.S. Census Bureau | Economic Indicators | ftdwebmaster@census.gov |  Last Revised: October 03, 2014