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 $42.4 billion in August, down $1.2 billion from $43.6 billion in July, revised. August exports were $195.3 billion, $0.8 billion more than July exports. August imports were $237.7 billion, $0.4 billion less than July imports.

The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $0.9 billion to $64.4 billion and an increase in the services surplus of $0.3 billion to $22.0 billion.

Exports (Exhibits 3, 6, and 7 in the FT-900)

Exports of goods increased $0.6 billion to $129.2 billion in August.

Exports of goods on a Census basis increased $0.1 billion.

• Consumer goods increased $1.0 billion.
  • Pharmaceutical preparations increased $0.6 billion.
• Capital goods increased $0.4 billion.
  • Telecommunications equipment increased $0.4 billion.
• Industrial supplies and materials decreased $1.0 billion.
  • Fuel oil decreased $0.7 billion.
• Foods, feeds, and beverages decreased $0.4 billion.

Exports of services increased $0.2 billion to $66.1 billion in August.

• Travel (for all purposes including education), other business services (which includes research and development services; professional and management services; and technical, trade-related, and other services), and financial services each increased $0.1 billion.
• Transport, which includes freight and port services and passenger fares, decreased $0.2 billion.

Imports (Exhibits 4, 6, and 8 in the FT-900)

Imports of goods decreased $0.3 billion to $193.6 billion in August.

Imports of goods on a Census basis decreased $0.4 billion.

• Industrial supplies and materials decreased $0.5 billion.
  • Finished metal shapes decreased $0.2 billion.
  • Copper decreased $0.2 billion.
• Capital goods decreased $0.5 billion.
  • Computer accessories decreased $0.3 billion.
  • Civilian aircraft decreased $0.2 billion.
• Automotive vehicles, parts, and engines increased $0.7 billion.
  • Passenger cars increased $0.5 billion.

Imports of services decreased $0.1 billion to $44.1 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 ($2.7), Hong Kong ($2.5), Singapore ($0.8), United Kingdom ($0.6), and Brazil ($0.4). Deficits were recorded, in billions of dollars, with China ($29.7), European Union ($10.9), Japan ($6.3), Mexico ($5.8), Germany ($4.8), Italy ($2.5), South Korea ($2.1), India ($1.6), Taiwan ($1.5), France ($0.8), OPEC ($0.8), Canada ($0.4), and Saudi Arabia ($0.1).

• The deficit with China decreased $2.1 billion to $29.7 billion in August. Exports increased $0.8 billion to $11.6 billion and imports decreased $1.2 billion to $41.3 billion.
• The deficit with the European Union decreased $1.2 billion to $10.9 billion in August. Exports increased $1.4 billion to $24.2 billion and imports increased $0.2 billion to $35.1 billion.

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