US international trade balance for August -$73.3B versus -$70.5 billion

US international trade balance for August

• US international trade balance for August $-73.3 billion deficit versus $-70.5 billion deficit estimate. 
• Prior month came in at $70.3 billion
  
• exports rose 0.5% to $213.7 billion
  
• imports rose 1.4% to $287 billion
  
• goods deficit rose by $1.6 billion  to $89.4 billion
  
• service deficit decreased by $1.4 billion to $16.2 billion
  
• year to date goods and services deficit increased $140.8 billion or 33.7% versus 2020
  
• year-to-date exports increased $244.3 billion or 17.5%. Year-to-date imports increased $385.1 billion or 21.1%
  
• Exports of goods on a Census basis increased $1.2 billion. 
• Industrial supplies and materials increased $3.5 billion. 
• Automotive vehicles, parts, and engines decreased $1.0 billion.
• Capital goods decreased $0.8 billion. 
• Foods, feeds, and beverages decreased $0.6 billion. o Corn decreased $0.6 billion. 
  
• Imports of goods increased $2.7 billion to $239.1 billion in August. 
• Consumer goods increased $3.0 billion. 
• Toys, games, and sporting goods increased $0.6 billion. 
• Industrial supplies and materials increased $1.8 billion. 
• Automotive vehicles, parts, and engines decreased $1.5 billion. o Passenger cars decreased $1.3 billion.
  
• The August figures show surpluses, in billions of dollars, with South and Central America ($5.7), Hong Kong ($2.2), Brazil ($2.1), Singapore ($1.0), and United Kingdom ($0.8). 
• Deficits were recorded, in billions of dollars, with China ($28.1), European Union ($19.3), Mexico ($6.6), Germany ($5.8), Japan ($5.6), Canada ($5.1), Taiwan ($3.6), South Korea ($3.1), Italy ($3.1), India ($3.0), France ($1.4), and Saudi Arabia ($0.6).
  
• The deficit with China increased $3.1 billion to $28.1 billion in August. Exports decreased $1.8 billion to $11.2 billion and imports increased $1.3 billion to $39.3 billion
  
• The deficit with Canada increased $1.4 billion to $5.1 billion in August. Exports decreased $1.6 billion to $25.2 billion and imports decreased $0.2 billion to $30.3 billion.
  
• The deficit with Mexico decreased $1.9 billion to $6.6 billion in August. Exports increased $0.9 billion to $24.1 billion and imports decreased $1.0 billion to $30.7 billion. 
  

The rising trade deficit is a negative for GDP. The global Covid situation is certainly an influence, but the trend continues to rush more to the upside with modest declines here in there.

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October 06, 2021 at 12:30AM

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