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  4. August 2017 Trade Gap is $42.4 Billion

August 2017 Trade Gap is $42.4 Billion

October 5, 2017

The U.S. monthly international trade deficit decreased in August 2017 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $43.6 billion in July (revised) to $42.4 billion in August, as exports increased and imports decreased. The previously published July deficit was $43.7 billion. The goods deficit decreased $0.9 billion in August to $64.4 billion. The services surplus increased $0.3 billion in August to $22.0 billion.

Balance on Goods and Services Trade Chart

Exports

Exports of goods and services increased $0.8 billion, or 0.4 percent, in August to $195.3 billion. Exports of goods increased $0.6 billion and exports of services increased $0.2 billion.

 

  • The increase in exports of goods mostly reflected increases in consumer goods ($1.0 billion) and in capital goods ($0.4 billion). Decreases in industrial supplies and materials ($1.0 billion) and in food, feeds, and beverages ($0.4 billion) partly offset the increases.
  • The increase in exports of services mostly reflected increases in travel (for all purposes including education) ($0.1 billion), in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services, and in financial services ($0.1 billion). A decrease in transport ($0.2 billion), which includes freight and port services and passenger fares, partly offset the increases.

Imports

Imports of goods and services decreased $0.4 billion, or 0.1 percent, in August to $237.7 billion. Imports of goods decreased $0.3 billion and imports of services decreased $0.1 billion.

 

  • The decrease in imports of goods mostly reflected decreases in industrial supplies and materials ($0.5 billion) and in capital goods ($0.5 billion). An increase in automotive vehicles, parts, and engines ($0.7 billion) partly offset the decreases.
  • The decrease in imports of services mostly reflected a decrease in transport ($0.2 billion). An increase in travel (for all purposes including education) ($0.1 billion) partly offset the decrease.

For more information, read the full report.