August Trade Deficit Of $45.6 Billion Was Slightly Narrower Than Expected

shipping containers in port on dock

Photo: AP

The US trade gap was flat at $45.6 billion in August, which compares to economists forecast of $46 billion.Estimates ranged from $48.3 billion to $42.6 billion.

The July figure deficit was revised up to $45.6 billion from $44.8 billion.

The trade deficit with China widened to $29.0 billion as imports reached an all-time high of $37.4 billion.

From the announcement:

Exports of goods from July to August were virtually unchanged. Increases occurred in industrial supplies and materials ($0.8 billion); consumer goods ($0.2 billion); foods, feeds, and beverages ($0.2 billion); and other goods ($0.1 billion). Decreases occurred in automotive vehicles, parts, and engines ($1.0 billion) and capital goods ($0.4 billion).

The July to August increase in imports of goods reflected increases in industrial supplies and materials ($0.9 billion); other goods ($0.9 billion); and foods, feeds, and beverages ($0.1 billion). Decreases occurred in consumer goods ($0.8 billion); automotive vehicles, parts, and engines ($0.7 billion); and capital goods ($0.3 billion).

The August 2010 to August 2011 increase in exports of goods reflected increases in industrial supplies and materials ($9.7 billion); capital goods ($4.2 billion); automotive vehicles, parts, and engines ($1.6 billion); foods, feeds, and beverages ($1.3 billion); consumer goods ($0.9 billion); and other goods ($0.2 billion).

The August 2010 to August 2011 increase in imports of goods reflected increases in industrial supplies and materials ($13.4 billion); capital goods ($4.3 billion); automotive vehicles, parts, and engines ($1.8 billion); foods, feeds, and beverages ($1.1 billion); other goods ($0.5 billion); and consumer goods ($0.3 billion).

August Trade Balance

Photo: U.S. Census Bureau

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