The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $58.3 billion in August, down $6.4 billion from $64.7 billion in July, revised.
August exports were $256.0 billion, $4.1 billion more than July exports. August imports were $314.3 billion, $2.3 billion less than July imports.
The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $5.5 billion to $84.5 billion and an increase in the services surplus of $1.0 billion to $26.2 billion.
Year-to-date, the goods and services deficit decreased $137.6 billion, or 20.7 percent, from the same period in 2022. Exports increased $22.0 billion or 1.1 percent. Imports decreased $115.6 billion or 4.3 percent.
The August figures show surpluses, in billions of dollars, with South and Central America ($4.7), Netherlands ($3.0), Hong Kong ($2.0), Australia ($1.7), Belgium ($0.7), United Kingdom ($0.4), and Brazil ($0.4).
Deficits were recorded, in billions of dollars, with China ($22.7), European Union ($17.8), Mexico ($12.8), Vietnam ($8.0), Germany ($6.6), Ireland ($5.7), Canada ($5.4), Japan ($5.0), Taiwan ($4.2), South Korea ($4.1), Italy ($3.3), India ($2.8), France ($2.3), Malaysia ($1.6), Switzerland ($1.5), Singapore ($1.0), Israel ($0.6), and Saudi Arabia ($0.1).