(BEA) The international trade in goods and services deficit in the US came at $73.3 billion in August, an increase of 4.2% or $2.9 billion from July.
The increase in the trade deficit was fueled by a higher 1.4% increase in imports which reached $287.0 billion in August. Exports rose by a lower 0.5% to $213.7 billion.
The year-to-date trade deficit rose by 33.7% to $140.8 billion from the comparable period of 2020. Imports rose by 21.2% or $385.1 billion, higher than 17.5% or $244.3 billion increase in exports.
On a three-month basis, the trade deficit increased by $1.6 billion to $72.3 billion. Exports were up by $1.7 billion, lower than imports’ surge of $3.2 billion.
On a year-over-year basis, the trade deficit widened by $13.9 billion in the three months to August from the comparable months of 2020. Exports rose by $44.2 billion, while imports posted a $58.1 billion surge.
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