Total August exports were $187.9 billion and imports were $228.6 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce. This resulted in a goods and services deficit of $40.7 billion, up $1.2 billion from July. August exports were up $1.5 billion from July, and August imports were up $2.6 billion.
The August increase in the goods and services deficit reflected a decrease in the goods deficit of less than $0.1 billion to $60.3 billion and a decrease in the services surplus of $1.2 billion to $19.6 billion.
Year-to-date, the goods and services deficit decreased $4.3 billion, or 1.3 percent, from the same period in 2015. Exports decreased $62.4 billion or 4.1 percent. Imports decreased $66.8 billion or 3.6 percent.
Exports of goods increased $1.2 billion and exports of services increased $0.3 billion. The increase in exports of goods mostly reflected increases in industrial supplies and materials ($1.4 billion); automotive vehicles, parts and engines ($0.4 billion); and capital goods ($0.7 billion). The increase in exports of services mainly reflected increases in travel ($0.2 billion) and transport ($0.1 billion).
Imports of goods increased $1.1 billion and imports of services increased $1.5 billion. The increase in imports of goods mostly reflected an increase in capital goods ($1.2 billion). The increase in imports of services mainly reflected an increase in charges for the use of intellectual property ($1.2 billion).
