Research >> Economics
Goods and Services Deficit Increased in August 2012
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The Nation’s international trade balance in goods and services worsened to -$44.2 billion in August from $42.5 billion in July (revised), as exports decreased more than imports.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total August exports of $181.3 billion and imports of $225.5 billion resulted in a goods and services deficit of $44.2 billion, up from $42.5 billion in July, revised. August exports were $1.9 billion less than July exports of $183.2 billion. August imports were $0.2 billion less than July imports of $225.7 billion.
In August, the goods deficit increased $1.5 billion from July to $59.3 billion, and the services surplus decreased $0.3 billion from July to $15.1 billion. Exports of goods decreased $2.1 billion to $128.5 billion, and imports of goods decreased $0.7 billion to $187.8 billion. Exports of services increased $0.2 billion to $52.8 billion, and imports of services increased $0.5 billion to $37.7 billion.
The goods and services deficit decreased $0.6 billion from August 2011 to August 2012. Exports were up $2.9 billion, or 1.6 percent, and imports were up $2.3 billion, or 1.0 percent.
Posted: October 11, 2012 Thursday 08:30 AM