The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $48.3 billion in August, up $6.5 billion from $41.8 billion in July, revised. August exports were $185.1 billion, $3.7 billion less than July exports. August imports were $233.4 billion, $2.8 billion more than July imports.

The August increase in the goods and services deficit reflected an increase in the goods deficit of $6.6 billion to $67.9 billion and an increase in the services surplus of $0.1 billion to $19.6 billion.

Year-to-date, the goods and services deficit increased $17.6 billion, or 5.2 percent, from the same period in 2014. Exports decreased $58.9 billion or 3.8 percent. Imports decreased $41.3 billion or 2.2 percent.

Exports (Exhibits 3, 6, and 7)

Exports of goods decreased $4.1 billion to $124.5 billion in August.

Exports of goods on a Census basis decreased $4.0 billion.

• Industrial supplies and materials decreased $2.2 billion.
  • Fuel oil decreased $0.6 billion.
  • Plastic materials decreased $0.2 billion.
  • Crude oil decreased $0.2 billion.

Net balance of payments adjustments decreased $0.1 billion.

Exports of services increased $0.4 billion to $60.6 billion in August.

• Financial services increased $0.1 billion.
• Travel (for all purposes including education) increased $0.1 billion.

Imports (Exhibits 4, 6, and 8)

Imports of goods increased $2.5 billion to $192.4 billion in August.

Imports of goods on a Census basis increased $3.3 billion.

• Consumer goods increased $4.0 billion.
  • Cell phones and other household goods increased $2.1 billion.
  • Toys, games, and sporting goods increased $0.3 billion.

Net balance of payments adjustments decreased $0.8   billion.

Imports of services increased $0.3 billion to $41.1 billion in August.

• Travel (for all purposes including education) increased $0.2 billion.
• Transport, which includes freight and port services and passenger fares, increased $0.1 billion.

Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19)

The August figures show surpluses, in billions of dollars, with South and Central America ($3.3) and OPEC ($1.0).   Deficits were recorded, in billions of dollars, with China ($32.9), European Union ($14.5), Germany ($6.8), Mexico ($5.3), Japan ($5.2), South Korea ($2.7), Canada ($2.2), Italy ($2.1), France ($2.0), India ($1.9), United Kingdom ($0.3), Brazil ($0.2), and Saudi Arabia (less than $0.1).

• The deficit with China increased $4.2 billion to $32.9 billion in August. Exports decreased $0.6 billion to $9.8 billion and imports increased $3.6 billion to $42.8 billion.
• The deficit with the European Union increased $2.1 billion to $14.5 billion in August. Exports decreased $0.7 billion to $21.7 billion and imports increased $1.4 billion to $36.2 billion.

NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.