The monthly U.S. trade deficit in goods and services fell 10.3 percent in August, resuming a recent downward trend, as exports rose but imports declined. For the year to date the total U.S. trade deficit is down 20.7 percent for the same period in 2022, with exports up 1.1 percent and imports down 4.3 percent.
Imports slipped 0.7 percent, to $314.3 billion, from July to August. Imports of goods were down 0.9 percent to $256.0 billion, with decreases of $1.5 billion for cell phones and other household goods, $700 million for semiconductors, and $400 million for electric apparatus along with increases of $1.5 billion for crude oil and $800 million each for other petroleum products and finished metal shapes. Services imports edged up 0.2 percent to $58.4 billion.
Exports rose 1.6 percent in August to $256.0 billion. Exports of goods were up 1.8 percent to $171.5 billion, with increases of $1.5 billion for crude oil and $500 million each for fuel oil and computer accessories along with decreases of $800 million for passenger cars and $500 million for trucks, buses, and special-purpose vehicles. Services exports rose 1.2 percent to $84.5 billion.
With exports up and imports down, the monthly U.S. trade deficit decreased from $64.7 billion in July to $58.3 billion in August. The deficit in goods trade was down 6.1 percent to $84.5 billion while the services trade surplus gained 4.0 percent to $26.2 billion.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$22.7 billion
|
-5.4
|
|
|
|
European Union
|
$17.8 billion
|
+2.9
|
|
|
|
Mexico
|
$12.8 billion
|
0
|
|
|
|
Vietnam
|
$8.0 billion
|
-14.0
|
|
|
|
Germany
|
$6.6 billion
|
-8.3
|
|
|
|
Ireland
|
$5.7 billion
|
-12.3
|
|
|
|
Canada
|
$5.4 billion
|
+35.0
|
|
|
|
Japan
|
$5.0 billion
|
-15.3
|
|
|
|
Taiwan
|
$4.2 billion
|
+7.7
|
|
|
|
South Korea
|
$4.1 billion
|
-22.6
|
|
|
|
Italy
|
$3.3 billion
|
-19.5
|
|
|
|
India
|
$2.8 billion
|
-6.7
|
|
|
|
France
|
$2.3 billion
|
+475
|
|
|
|
Malaysia
|
$1.6 billion
|
-33.3
|
|
|
|
Switzerland
|
$1.5 billion
|
-21.1
|
|
|
|
Singapore
|
$1.0 billion
|
Shift from $0.2 billion surplus
|
|
|
|
Israel
|
$0.6 billion
|
-25.0
|
|
|
|
Saudi Arabia
|
$0.1 billion
|
-50
|
|
|
|
South/Central America
|
|
|
$4.7 billion
|
+14.6
|
|
Netherlands
|
|
|
$3.0 billion
|
-33.3
|
|
Hong Kong
|
|
|
$2.0 billion
|
+25.0
|
|
Australia
|
|
|
$1.7 billion
|
+13.3
|
|
Belgium
|
|
|
$0.7 billion
|
-53.3
|
|
United Kingdom
|
|
|
$0.4 billion
|
-20.0
|
|
Brazil
|
|
|
$0.4 billion
|
+33.3
|
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