The U.S. monthly international trade deficit decreased in August 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $70.5 billion in July (revised) to $67.4 billion in August, as imports decreased more than exports. The previously published July deficit was $70.6 billion. The goods deficit decreased $3.4 billion in August to $87.6 billion. The services surplus decreased $0.4 billion in August to $20.2 billion.
Exports
Exports of goods and services decreased $0.7 billion, or 0.3 percent, in August to $258.9 billion. Exports of goods decreased $0.7 billion and exports of services decreased less than $0.1 billion.
The decrease in exports of goods reflected decreases in industrial supplies and materials ($2.2 billion) and in automotive vehicles, parts, and engines ($1.1 billion). An increase in consumer goods ($1.3 billion) partly offset the decreases.
The decrease in exports of services reflected a decrease in travel ($0.3 billion). Increases in other business services ($0.2 billion) and in financial services ($0.1 billion) partly offset the decrease.
Imports
Imports of goods and services decreased $3.7 billion, or 1.1 percent, in August to $326.3 billion. Imports of goods decreased $4.1 billion and imports of services increased $0.4 billion.
The decrease in imports of goods reflected decreases in industrial supplies and materials ($4.7 billion) and in capital goods ($1.1 billion). An increase in automotive vehicles, parts, and engines ($1.1 billion) partly offset the decreases.
The increase in imports of services reflected increases in travel ($0.3 billion) and in charges for the use of intellectual property ($0.1 billion).
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