October 5, 2018

The U.S. monthly international trade deficit increased in August 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $50.0 billion in July (revised) to $53.2 billion in August, as exports decreased and imports increased. The previously published July deficit was $50.1 billion. The goods deficit increased $3.6 billion in August to $76.7 billion. The services surplus increased $0.4 billion in August to $23.5 billion.

August Trade Gap Oct5

Exports of goods and services decreased $1.7 billion, or 0.8 percent, in August to $209.4 billion. Exports of goods decreased $1.9 billion and exports of services increased $0.2 billion.

  • The decrease in exports of goods mostly reflected decreases in industrial supplies and materials ($2.4 billion) and in foods, feeds, and beverages ($1.2 billion). An increase in consumer goods ($1.6 billion) partly offset the decreases
  • The increase in exports of services mostly reflected increases in financial services ($0.1 billion) and in maintenance and repair services ($0.1 billion).

Imports of goods and services increased $1.5 billion, or 0.6 percent, in August to $262.7 billion. Imports of goods increased $1.7 billion and imports of services decreased $0.1 billion.

  • The increase in imports of goods mostly reflected increases in automotive vehicles, parts, and engines ($1.0 billion) and in consumer goods ($0.9 billion).
  • The decrease in imports of services mostly reflected a decrease in charges for the use of intellectual property ($0.2 billion), which in July included payments for the rights to broadcast the 2018 soccer World Cup. An increase in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services, partly offset the decrease.

For more information, read the full report.