Trade Deficit Narrowed by $8.5 Billion in August
Washington, DC, October 8, 2024-The goods and services deficit was $70.4 billion in August, down $8.5 billion from $78.9 billion in July, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.
August exports were $271.8 billion, $5.3 billion more than July exports. August imports were $342.2 billion, $3.2 billion less than July imports.
The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $8.4 billion to $94.9 billion and an increase in the services surplus of $0.1 billion to $24.4 billion.
Year-to-date, the goods and services deficit increased $47.1 billion, or 8.9%, from the same period in 2023. Exports increased $79.0 billion or 3.9%. Imports increased $126.1 billion or 4.9%.
Related Topics:U.S. Census Bureau