Skip Header

We are hiring thousands of people for the 2020 Census. Click to learn more and apply.

The Goods and Services Deficit Increased to $40.7 billion in August 2016

Wed Oct 05 2016
Component ID: #ti1716227692

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 $40.7 billion in August, up $1.2 billion from $39.5 billion in July, revised.  August exports were $187.9 billion, $1.5 billion more than July exports. August imports were $228.6 billion, $2.6 billion more than July imports.

Component ID: #ti1079664528

The August increase in the goods and services deficit reflected a decrease in the goods deficit of less than $0.1 billion to $60.3 billion and a decrease in the services surplus of $1.2 billion to $19.6 billion.

Component ID: #ti1824477217

Year-to-date, the goods and services deficit decreased $4.3 billion, or 1.3 percent, from the same period in 2015. Exports decreased $62.4 billion or 4.1 percent. Imports decreased $66.8 billion or 3.6 percent.

Component ID: #ti1824477218

Exports of goods increased $1.2 billion to $125.3 billion in August.

Exports of goods on a Census basis increased $0.8 billion.

  • Industrial supplies and materials increased $1.4 billion.
    • Nonmonetary gold increased $0.9 billion.
  • Automotive vehicle, parts, and engines increased $0.4 billion.
  • Capital good decreased $0.7 billion.
    • Civilian aircraft decreased $0.8 billion.

Net balance of payments adjustments increased $0.4 billion.

Exports of services increased $0.3 billion to $62.5 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.

Component ID: #ti1824477219

Imports of goods increased $1.1 billion to $185.6 billion in August.

Imports of goods on a Census basis increased $1.2 billion.

  • Capital goods increased $1.2 billion.
    • Civilian aircraft increased $0.6 billion.
  • Other goods increased $0.7 billion.
  • Industrial supplies and materials decreased $0.8 billion.
    • Nonmonetary gold decreased $1.4 billion.

Net balance of payments adjustments decreased less than $0.1 billion.

Imports of services increased $1.5 billion to $43.0 billion in August.

  • Charges for the use of intellectual property increased $1.2 billion. The increase reflects payments for the rights to broadcast the 2016 Summer Olympic Games.
  • Travel (for all purposes including education) increased $0.2 billion.

Goods by Selected Countries and Areas

Component ID: #ti1824477220

The August figures show surpluses, in billions of dollars, with Hong Kong ($2.4), South and Central America ($1.7), Saudi Arabia ($0.8), Singapore ($0.7), United Kingdom ($0.4), and Brazil ($0.2). Deficits were recorded, in billions of dollars, with China ($29.2), European Union ($12.3), Japan ($5.7), Germany ($5.3), Mexico ($5.2), South Korea ($2.5), Italy ($2.4), France ($2.0), India ($1.9), Taiwan ($1.5), Canada ($1.1), and OPEC ($0.3).

  • The surplus with Hong Kong increased $0.4 billion to $2.4 billion in August. Exports increased $0.4 billion to $3.0 billion and imports increased less than $0.1 billion to $0.7 billion.
  • The balance with Saudi Arabia shifted from a deficit of $0.2 billion to a surplus of $0.8 billion in August. Exports increased $1.3 billion to $2.5 billion and imports increased $0.4 billion to $1.7 billion.
  • The deficit with France increased $1.0 billion to $2.0 billion in August. Exports decreased $0.6 billion to $2.3 billion and imports increased $0.4 billion to $4.3 billion.

Component ID: #ti1824477221

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

X
  Is this page helpful?
Thumbs Up Image Yes    Thumbs Down Image No
X
Comments or suggestions?
No, thanks
255 characters remaining
X
Thank you for your feedback.
Comments or suggestions?
Back to Header