Trade Deficit Narrowed by $6.4B in July

Washington, DC, October 5, 2023-The goods and services deficit was $58.3 billion in August, down $6.4 billion from $64.7 billion in July, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.

August exports were $256.0 billion, $4.1 billion more than July exports. August imports were $314.3 billion, $2.3 billion less than July imports.

The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $5.5 billion to $84.5 billion and an increase in the services surplus of $1.0 billion to $26.2 billion.

Year-to-date, the goods and services deficit decreased $137.6 billion, or 20.7%, from the same period in 2022. Exports increased $22.0 billion or 1.1%. Imports decreased $115.6 billion or 4.3%.