U.S. DEFICIT UP $17.6 BLN
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 $48.3 billion in August, up $6.5 billion from $41.8 billion in July, revised. August exports were $185.1 billion, $3.7 billion less than July exports. August imports were $233.4 billion, $2.8 billion more than July imports.
The August increase in the goods and services deficit reflected an increase in the goods deficit of $6.6 billion to $67.9 billion and an increase in the services surplus of $0.1 billion to $19.6 billion.
Year-to-date, the goods and services deficit increased $17.6 billion, or 5.2 percent, from the same period in 2014. Exports decreased $58.9 billion or 3.8 percent. Imports decreased $41.3 billion or 2.2 percent.
The average goods and services deficit increased $1.9 billion to $45.1 billion for the three months ending in August.
- Average exports of goods and services decreased $0.9 billion to $187.2 billion in August.
- Average imports of goods and services increased $1.0 billion to $232.3 billion in August.
Year-over-year, the average goods and services deficit increased $3.4 billion from the three months ending in August 2014.
- Average exports of goods and services decreased $9.4 billion from August 2014.
- Average imports of goods and services decreased $6.0 billion from August 2014.
Exports of goods decreased $4.1 billion to $124.5 billion in August.
Exports of goods on a Census basis decreased $4.0 billion. Industrial supplies and materials decreased $2.2 billion.
- Fuel oil decreased $0.6 billion.
- Plastic materials decreased $0.2 billion.
- Crude oil decreased $0.2 billion.
Net balance of payments adjustments decreased $0.1 billion.
Exports of services increased $0.4 billion to $60.6 billion in August.
- Financial services increased $0.1 billion.
- Travel (for all purposes including education) increased $0.1 billion.
Imports of goods increased $2.5 billion to $192.4 billion in August. Imports of goods on a Census basis increased $3.3 billion.
Consumer goods increased $4.0 billion.
- Cell phones and other household goods increased $2.1 billion.
- Toys, games and sporting goods increased $0.3 billion.
Net balance of payments adjustments decreased $0.8 billion.
Imports of services increased $0.3 billion to $41.1 billion in August.
- Travel (for all purposes including education) increased $0.2 billion.
- Transport, which includes freight and port services and passenger fares, increased $0.1 billion.
The real goods deficit increased $7.3 billion to $63.4 billion in August.
- Real exports of goods decreased $1.9 billion to $119.2 billion.
- Real imports of goods increased $5.4 billion to $182.7 billion.
Revisions to July exports
- Exports of goods were revised upward $0.4 billion.
- Exports of services were revised downward $0.1 billion.
Revisions to July imports
- Imports of goods were revised upward $0.2 billion.
- Imports of services were revised upward less than $0.1 billion.
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