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.
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.
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.
Exports of goods increased $1.2 billion to $125.3 billion in August.
Exports of goods on a Census basis increased $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.
Imports of goods increased $1.1 billion to $185.6 billion in August.
Imports of goods on a Census basis increased $1.2 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.
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).
NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.