Research >> Economics
Goods and Services Deficit Decreased in August 2010
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The Nation’s international trade deficit in goods and services increased to $46.3 billion in August from $42.6 billion (revised) in July, as imports increased more than exports.
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 $153.9 billion and imports of $200.2 billion resulted in a goods and services deficit of $46.3 billion, up from $42.6 billion in July, revised. August exports were $0.3 billion more than July exports of $153.5 billion. August imports were $4.1 billion more than July imports of $196.1 billion.
In August, the goods deficit increased $3.9 billion from July to $59.0 billion, and the services surplus increased $0.1 billion to $12.6 billion. Exports of goods were virtually unchanged at $107.7 billion, and imports of goods increased $3.9 billion to $166.7 billion. Exports of services increased $0.3 billion to $46.2 billion, and imports of services increased $0.2 billion to $33.5 billion.
The goods and services deficit increased $15.3 billion from August 2009 to August 2010. Exports were up $23.5 billion, or 18.0 percent, and imports were up $38.8 billion, or 24.0 percent.
Posted: October 14, 2010 Thursday 08:30 AM