The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $67.4 billion in August, down $3.1 billion from $70.5 billion in July, revised.
August exports were $258.9 billion, $0.7 billion less than July exports. August imports were $326.3 billion, $3.7 billion less than July imports. The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $3.4 billion to $87.6 billion and a decrease in the services surplus of $0.4 billion to $20.2 billion.
Year-to-date, the goods and services deficit increased $132.3 billion, or 24.4 percent, from the same period in 2021. Exports increased $329.8 billion or 19.9 percent. Imports increased $462.1 billion or 21.0 percent.
The August figures show surpluses, in billions of dollars, with South and Central America ($7.1), Netherlands ($4.2), Hong Kong ($2.3), Singapore ($1.7), United Kingdom ($1.2), Australia ($1.1), Brazil ($1.0), and Belgium ($0.5). Deficits were recorded, in billions of dollars, with China ($33.5), European Union ($13.5), Mexico ($9.8), Vietnam ($9.6), Canada ($7.4), Ireland ($5.2), Germany ($5.0), Taiwan ($4.0), Italy ($4.0), Japan ($3.6), South Korea ($3.1), India ($3.1), Malaysia ($2.5), France ($0.9), Israel ($0.6), Saudi Arabia ($0.6), and Switzerland ($0.5).