The monthly U.S. trade deficit in goods and services fell 10.8 percent in August after a 7.9 percent increase in July as exports rose and imports fell.
According to the Census Bureau, total U.S. exports hit an all-time high, as did imports and exports of services. Other records included exports to Mexico, Australia, and the Netherlands and the trade surplus with the Netherlands.
Imports were down 0.9 percent, to $342.2 billion, from July to August. Imports of goods fell 1.4 percent to $274.3 billion, with decreases of $1.2 billion for non-monetary gold, $1.1 billion for passenger cars, and $1.0 billion each for finished metal shapes and crude oil. Services imports were up 1.0 percent to $67.9 billion.
Exports rose 2.0 percent in August to a second straight all-time high at $271.8 billion. Exports of goods jumped 2.5 percent to $179.4 billion, with increases of $1.5 billion for non-monetary gold, $1.0 billion for pharmaceutical preparations, and $500 million for telecommunications equipment. Services exports gained 1.0 percent to $92.3 billion.
The monthly U.S. trade deficit shrank from $78.9 billion in July to $70.4 billion in August. The deficit in goods trade was down 8.1 percent to $94.9 billion while the services trade surplus edged up 0.4 percent to $24.4 billion.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$24.7 billion
|
-9.2
|
|
|
|
European Union
|
$19.1 billion
|
+3.8
|
|
|
|
Mexico
|
$14.3 billion
|
+5.1
|
|
|
|
Vietnam
|
$9.8 billion
|
+3.2
|
|
|
|
Ireland
|
$8.0 billion
|
+21.2
|
|
|
|
Taiwan
|
$7.3 billion
|
-12.0
|
|
|
|
Germany
|
$6.6 billion
|
-14.3
|
|
|
|
South Korea
|
$4.9 billion
|
-14.0
|
|
|
|
Japan
|
$4.9 billion
|
-9.3
|
|
|
|
Canada
|
$3.9 billion
|
-48.7
|
|
|
|
Italy
|
$2.9 billion
|
-19.4
|
|
|
|
India
|
$2.7 billion
|
-18.2
|
|
|
|
Switzerland
|
$2.5 billion
|
-21.9
|
|
|
|
France
|
$1.7 billion
|
+41.7
|
|
|
|
Malaysia
|
$1.1 billion
|
-26.7
|
|
|
|
Israel
|
$1.0 billion
|
+150.0
|
|
|
|
Belgium
|
$0.6 billion
|
Shift from $1.0 billion surplus
|
|
|
|
Saudi Arabia
|
$0.1 billion
|
0
|
|
|
|
Netherlands
|
|
|
$5.5 billion
|
+17.0
|
|
South/Central America
|
|
|
$4.0 billion
|
-4.8
|
|
Australia
|
|
|
$1.9 billion
|
+26.7
|
|
Hong Kong
|
|
|
$1.6 billion
|
-11.1
|
|
Brazil
|
|
|
$0.8 billion
|
0
|
|
Singapore
|
|
|
$0.5 billion
|
Shift from $1.2 billion deficit
|
|
United Kingdom
|
|
|
$0.3 billion
|
-62.5
|
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