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Goods and Services Deficit Increased in August 2021
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The nation's international trade deficit in goods and services increased to $73.3 billion in August from $70.3 billion in July (revised), as imports increased more than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $73.3 billion in August, up $2.9 billion from $70.3 billion in July, revised.
Exports, Imports, and Balance
August exports were $213.7 billion, $1.0 billion more than July exports. August imports were $287.0 billion, $4.0 billion more than July imports. The August increase in the goods and services deficit reflected an increase in the goods deficit of $1.6 billion to $89.4 billion and a decrease in the services surplus of $1.4 billion to $16.2 billion. Year-to-date, the goods and services deficit increased $140.8 billion, or 33.7 percent, from the same period in 2020. Exports increased $244.3 billion or 17.5 percent. Imports increased $385.1 billion or 21.2 percent.
Three-Month Moving Averages
The average goods and services deficit increased $1.6 billion to $72.3 billion for the three months ending in August.
• Average exports increased $1.7 billion to $212.2 billion in August.
• Average imports increased $3.2 billion to $284.4 billion in August.
Year-over-year, the average goods and services deficit increased $13.9 billion from the three months ending in August 2020.
• Average exports increased $44.2 billion from August 2020.
• Average imports increased $58.1 billion from August 2020.
Posted: October 5, 2021 Tuesday 08:30 AM