The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $53.2 billion in August, up $3.2 billion from $50.0 billion in July, revised.
Exports, Imports, and Balance (Exhibit 1)
August exports were $209.4 billion, $1.7 billion less than July exports. August imports were $262.7 billion, $1.5 billion more than July imports.
The August increase in the goods and services deficit reflected an increase in the goods deficit of $3.6 billion to $76.7 billion and an increase in the services surplus of $0.4 billion to $23.5 billion.
Year-to-date, the goods and services deficit increased $31.0 billion, or 8.6 percent, from the same period in 2017. Exports increased $129.6 billion or 8.4 percent. Imports increased $160.6 billion or 8.4 percent.
Exports (Exhibits 3, 6, and 7)
Exports of goods decreased $1.9 billion to $138.9 billion in August.
Exports of goods on a Census basis decreased $1.8 billion.
Exports of services increased $0.2 billion to $70.5 billion in August.
Imports (Exhibits 4, 6, and 8)
Imports of goods increased $1.7 billion to $215.6 billion in August.
Imports of goods on a Census basis increased $1.6 billion.
Imports of services decreased $0.1 billion to $47.0 billion in August.
Goods by Selected Countries and Areas: Census Basis (Exhibit 19)
The August figures show surpluses, in billions of dollars, with South and Central America ($3.4), Hong Kong ($2.3), Singapore ($0.6), and Brazil ($0.5). Deficits were recorded, in billions of dollars, with China ($34.4), European Union ($14.9), Mexico ($8.7), Japan ($5.8), Germany ($5.3), Canada ($3.0), Italy ($2.7), India ($1.9), South Korea ($1.8), France ($1.3), Saudi Arabia ($1.1), OPEC ($1.0), Taiwan ($0.7), and United Kingdom ($0.1).