Aug US exports rise to $256 bn; goods exports up $3.1 bn to $171.5 bn

07 Oct '23

1 min read

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Insights

Overall US exports were worth $256 billion in August this year, $4.1 billion more than the July figure, as per official data.
August imports were worth $314.3 billion, $2.3 billion less than the July figure.
Export of goods increased by $3.1 billion to $171.5 billion in August, while goods imports decreased by $2.4 billion to $256 billion in the month.

Overall US exports were worth $256 billion in August this year—$4.1 billion more than the July figure, according to recent data from the Census Bureau and the Bureau of Economic Analysis (BEA). August imports were worth $314.3 billion, $2.3 billion less than the July figure.

The goods and services deficit was $58.3 billion in August—down by $6.4 billion from $64.7 billion in July, according to revised data.

The August decrease reflected a decrease in the goods deficit of $5.5 billion to $84.5 billion.

Export of goods increased by $3.1 billion to $171.5 billion in August. Export of industrial supplies and materials increased by $2.7 billion, of crude oil increased by $1.5 billion, and of consumer goods increased by $1.0 billion.

Imports of goods decreased by $2.4 billion to $256 billion in August.

The average goods and services deficit decreased by $2.8 billion to $62.2 billion for the three months ending in August. Average exports increased by $2.7 billion to $251.9 billion in the month, while average imports decreased by $0.1 billion to $314.1 billion.

The average goods and services deficit fell by $11 billion year on year from the three months ending in August 2022.

ALCHEMPro News Desk (DS)

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