United States international trade balance for the month of August
- United States’ international trade balance for August’s deficit of $ 73.3 billion against an estimated deficit of $ 70.5 billion.
- The previous month was $ 70.3 billion
- exports grew 0.5% to $ 213.7 billion
- imports rose 1.4% to $ 287 billion
- the goods deficit increased by $ 1.6 billion to $ 89.4 billion
- the services deficit narrowed from $ 1.4 billion to $ 16.2 billion
- Year-to-date goods and services deficit increased by $ 140.8 billion or 33.7% from 2020
- exports since the start of the year have increased by $ 244.3 billion or 17.5%. Cumulative imports increased $ 385.1 billion or 21.1%
- Exports of goods according to the census increased by $ 1.2 billion.
- Industrial supplies and materials increased by $ 3.5 billion.
- Motor vehicles, parts and engines fell $ 1.0 billion.
- Capital goods fell $ 0.8 billion.
- Food, feed and beverages fell $ 0.6 billion. o Corn was down $ 0.6 billion.
- Imports of goods rose $ 2.7 billion to $ 239.1 billion in August.
- Consumer goods rose $ 3.0 billion.
- Toys, games and sporting goods increased by $ 0.6 billion.
- Industrial supplies and materials increased by $ 1.8 billion.
- Motor vehicles, parts and engines fell $ 1.5 billion. o Passenger cars are down $ 1.3 billion.
- August figures show surpluses, in billions of dollars, with South and Central America ($ 5.7), Hong Kong ($ 2.2), Brazil ($ 2.1), Singapore (1 , $ 0) and the United Kingdom ($ 0.8).
- Deficits were recorded, in billions of dollars, with China ($ 28.1), the European Union ($ 19.3), Mexico ($ 6.6), Germany ($ 5.8) , Japan ($ 5.6), Canada ($ 5.1), Taiwan ($ 3.6), South Korea ($ 3.1), Italy ($ 3.1), India ($ 3.0), France ($ 1.4) and Saudi Arabia ($ 0.6).
- The deficit with China increased by $ 3.1 billion to reach $ 28.1 billion in August. Exports decreased by $ 1.8 billion to $ 11.2 billion and imports increased by $ 1.3 billion to $ 39.3 billion
- The deficit with Canada increased $ 1.4 billion to $ 5.1 billion in August. Exports fell $ 1.6 billion to $ 25.2 billion, and imports fell $ 0.2 billion to $ 30.3 billion.
- The deficit with Mexico narrowed by $ 1.9 billion to $ 6.6 billion in August. Exports increased $ 0.9 billion to $ 24.1 billion, and imports declined $ 1.0 billion to $ 30.7 billion.
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The increase in the trade deficit is negative for GDP. The global Covid situation is certainly an influence, but the trend continues to rush further upward with modest declines here and there.