US Trade Deficit Increases To $44.2 Billion

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Photo: AP

The U.S. trade deficit widened to $44.2 billion in August from $42.0 billion in July.Analysts were expecting a $44.0 billion deficit for the month of August.

Key output from the report below:

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 per cent, and imports were up $2.3 billion, or 1.0 per cent.

Here is the full press release >

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