U.S. International Trade in Goods and Services Highlights

Site Navigation:

October 19 , 2001

Goods and Services Deficit Decreases in August 2001

The Nation's international deficit in goods and services decreased to $27.1 billion in August, from $29.2 billion (revised) in July, as exports increased and imports decreased.

Graph of International Trade Balances

Goods and Services

Exports increased to $84.5 billion from $83.6 billion in July. Goods were $59.5 billion in August, up from $58.7 billion in July, and services were $25.0 billion in August, up from $24.9 billion in July.
Imports decreased to $111.6 billion from $112.8 billion in July. Goods were $93.3 billion in August, down from $94.5 billion in July, and services were $18.3 billion in August, up from $18.2 billion in July.
For goods, the deficit was $33.8 billion in August, down from $35.8 billion in July. For services, the surplus was $6.7 billion in August, virtually unchanged from July.

Goods by Category

The July to August change in exports of goods reflected increases in industrial supplies and materials; automotive vehicles, parts, and engines; foods, feeds, and beverages; and other goods. Decreases occurred in capital goods and consumer goods.
The July to August change in imports of goods reflected decreases in industrial supplies and materials; capital goods; consumer goods; other goods; and foods, feeds, and beverages. An increase occurred in automotive vehicles, parts, and engines.

Goods by Geographic Area (Not Seasonally Adjusted)

The goods deficit with China increased from $7.5 billion in July to $8.1 billion in August. Exports increased $0.4 billion (primarily transport equipment) to $1.9 billion, while imports increased $1.0 billion (primarily toys, games, and sporting goods; telecommunications equipment; electrical machinery; and computers and computer products) to $10.0 billion.
The goods deficit with Mexico decreased from $2.9 billion in July to $2.5 billion in August. Exports increased $1.3 billion (primarily automobiles and automobile parts; electrical machinery; and transport equipment) to $9.0 billion, while imports increased $1.0 billion (primarily electrical machinery and telecommunications equipment) to $11.5 billion.
The goods deficit with Western Europe decreased from $8.6 billion in July to $5.4 billion in August. Exports increased $1.2 billion (primarily transport equipment) to $13.5 billion, while imports decreased $2.0 billion (primarily pharmaceutical products; organic chemicals; and nonmetallic minerals) to $19.0 billion.

This and more information is provided in the Bureau of the Census and Bureau of Economic Analysis press release:

U.S.International Trade in Goods and Services: August 2001 .

For further information on goods, contact Nick Orsini, Foreign Trade Division, Bureau of the Census, on (301) 457-2311; on services, contact Christopher Bach, Bureau of Economic Analysis, on (202) 606-9545.

The next release is November 20, 2001

Note: Total goods are reported on a balance of payments basis; commodityand country detail for goods are on a Census basis. Definitions are explained in the notes to the monthly press release.

Related sites:

U.S. Department of Commerce
- U.S. Census Bureau, Foreign Trade Division
- Bureau of Economic Analysis

Last modified: 19 October 2001