Research >> Economics
Goods and Services Deficit Increased in August 2013
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The Nation’s international trade deficit in goods and services increased to $38.8 billion in August from $38.6 billion in July (revised), as exports decreased and imports increased.
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 $189.2 billion and imports of $228.0 billion resulted in a goods and services deficit of $38.8 billion, up from $38.6 billion in July, revised. August exports were $0.1 billion less than July exports of $189.3 billion. August imports were virtually unchanged at $228.0 billion.
In August, the goods deficit increased $0.1 billion from July to $58.2 billion, and the services surplus was virtually unchanged at $19.4 billion. Exports of goods decreased $0.3 billion to $132.4 billion, and imports of goods decreased $0.1 billion to $190.7 billion. Exports of services increased $0.1 billion to $56.8 billion, and imports of services increased $0.2 billion to $37.4 billion.
The goods and services deficit decreased $5.2 billion from August 2012 to August 2013. Exports were up $7.2 billion, or 3.9 percent, and imports were up $1.9 billion, or 0.9 percent.
Posted: October 24, 2013 Thursday 08:30 AM