August 2016 Trade Gap is $40.7 Billion

The U.S. monthly international trade deficit increased in August 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $39.5 billion in July (revised) to $40.7 billion in August, as imports increased more than exports. The previously published July deficit was $39.5 billion. The goods deficit decreased less than $0.1 billion in August to $60.3 billion. The services surplus decreased $1.2 billion in August to $19.6 billion.

balance-on-goods-and-services-trade-oct-5

Exports
Exports of goods and services increased $1.5 billion, or 0.8 percent, in August to $187.9 billion. Exports of goods increased $1.2 billion and exports of services increased $0.3 billion.
• The increase in exports of goods reflected an increase in industrial supplies and materials ($1.4 billion). A decrease in capital goods ($0.7 billion) was partly offsetting.
• The increase in exports of services mainly reflected an increase in travel (for all purposes including education) ($0.2 billion).

Imports
Imports of goods and services increased $2.6 billion, or 1.2 percent, in August to $228.6 billion. Imports of goods increased $1.1 billion and imports of services increased $1.5 billion.
• The increase in imports of goods reflected an increase in capital goods ($1.2 billion). A decrease in industrial supplies and materials ($0.8 billion) was partly offsetting.
• The increase in imports of services reflected an increase in charges for the use of intellectual property ($1.2 billion), which included payments for the rights to broadcast the 2016 Summer Olympic Games.

For more information, read the full report. 


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