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Trade Deficit Increases in August 2010

Thu Oct 14 2010
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The U.S. international trade deficit increased to $46.3 billion in August 2010, as imports increased more than exports.

While exports increased slightly, from $153.5 to $153.9, imports were up $4.1 billion to $200.2 billion.

The increase in exports was driven by an increase in services exports (up $0.3 billion), as well as exports of foods, feeds, and beverages (up $1.2 billion) and industrial supplies (up $0.6 billion).

Imports saw increases in consumer goods (up $1.4 billion), capital goods (up $0.9 billion), and record-high imports of foods, feeds, and beverages ($7.8 billion, up $0.1 billion).

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The import increase came largely from Canada (up $2.1 billion) and China (up $2.0 billion). The increase in imports from China was driven by toys, games and sporting goods; cellphones; and computer accessories. The result was a record high $35.3 billion in imports from China, outpacing the previous high, set in October 2008, by $1.3 billion. The $28.0 billion trade deficit with China was the largest monthly deficit we have ever had with one country, surpassing the $27.9 billion deficit with China from October 2008.

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