The U.S. monthly international trade deficit increased in August 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $70.3 billion in July (revised) to $73.3 billion in August, as imports increased more than exports. The previously published July deficit was $70.1 billion. The goods deficit increased $1.6 billion in August to $89.4 billion. The services surplus decreased $1.4 billion in August to $16.2 billion.
Exports of goods and services increased $1.0 billion, or 0.5 percent, in August to $213.7 billion. Exports of goods increased $1.1 billion and exports of services decreased $0.1 billion.
- The increase in exports of goods reflected an increase in industrial supplies and materials ($3.5 billion). Decreases in automotive vehicles, parts, and engines ($1.0 billion), in capital goods ($0.8 billion), and in foods, feeds, and beverages ($0.6 billion) partly offset the increase.
- The decrease in exports of services reflected a decrease in travel ($0.3 billion). Increases in other business services ($0.1 billion) and in charges for the use of intellectual property ($0.1 billion) partly offset the decrease.
Imports of goods and services increased $4.0 billion, or 1.4 percent, in August to $287.0 billion. Imports of goods increased $2.7 billion and imports of services increased $1.3 billion.
- The increase in imports of goods reflected increases in consumer goods ($3.0 billion) and in industrial supplies and materials ($1.8 billion). A decrease in automotive vehicles, parts, and engines ($1.5 billion) partly offset the increases.
- The increase in imports of services reflected increases in transport ($0.7 billion) and in travel ($0.5 billion).
The global COVID-19 pandemic and the economic recovery continued to impact international trade. The full economic effects of the pandemic cannot be quantified in the statistics because the impacts are generally embedded in source data and cannot be separately identified. For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, August 2021.