The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced today that total August exports of $108.2 billion and imports of $167.2 billion resulted in a goods and services deficit of $59.0 billion, compared with $58.0 billion in July, revised.
August exports were $1.8 billion more than July exports of $106.4 billion. August imports were $2.9 billion more than July imports of $164.3 billion.
In August, the goods deficit increased $1.3 billion from July to $63.8 billion, and the services surplus increased $0.2 billion to $4.8 billion.
Exports of goods increased $1.6 billion to $76.7 billion, and imports of goods increased $2.9 billion to $140.5 billion. Exports of services increased $0.2 billion to $31.5 billion, and imports of services were virtually unchanged at $26.7 billion.
In August, the goods and services deficit was up $4.8 billion from August 2004. Exports were up $11.7 billion, or 12.1 percent, and imports were up $16.5 billion, or 10.9 percent.
Goods The July to August change in exports of goods reflected increases in capital goods ($1.1 billion); automotive vehicles, parts, and engines ($0.3 billion); industrial supplies and materials ($0.2 billion); other goods ($0.2 billion); and foods, feeds, and beverages ($0.1 billion). Consumer goods were virtually unchanged.
The July to August change in imports of goods reflected increases in industrial supplies and materials ($1.7 billion);
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