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THURSDAY October 11, 2007 AUGUST 2007 TRADE GAP IS $57.6 BILLION U.S. international trade in goods and services USCENSUSBUREAU Helping You Make Informed Decisions The U.S. monthly goods and services deficit decreased in August 2007, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $59.0 billion (revised) in July to $57.6 billion in August, as exports increased and imports decreased. The July deficit was slightly lower than its previously published value of $59.2 billion. Balance on Goods and Services Trade [Monthly, seasonally adjusted] ($ in Billions) $0 -$10 -$20 -$30 -$40 -$50 -$60 -$70 -$80 2000 2001 2002 2003 2004 2005 2006 2007 Exports Exports of goods and services increased $0.6 billion in August to $138.3 billion, reflecting increases in both goods and services exports. The increase in goods exports was mostly accounted for by increases in industrial supplies and materials and foods, feeds, and beverages, which were partly offset by a decrease in automotive vehicles, parts, and engines. The increase in services exports mostly reflected an increase in travel. Imports Imports of goods and services decreased $0.8 billion in August to $195.9 billion, reflecting a decrease in goods imports. Services imports were virtually unchanged. The decrease in goods imports was mostly accounted for by decreases in industrial supplies and materials and automotive vehicles, parts, and engines, which were partly offset by an increase in capital goods. Services imports were virtually unchanged, reflecting small and nearly offsetting changes in all categories. Goods by geographic area (not seasonally adjusted) The goods deficit with Mexico increased from $5.6 billion in July to $6.9 billion in August. Exports increased $1.1 billion to $12.3 billion, while imports increased $2.4 billion to $19.2 billion. The goods deficit with China decreased from $23.8 billion in July to $22.5 billion in August. Exports increased $1.1 billion to $5.9 billion, while imports decreased $0.2 billion to $28.4 billion. The goods deficit with the European Union decreased from $13.0 billion in July to $10.2 billion in August. Exports increased $1.3 billion to $20.2 billion, while imports decreased $1.4 billion to $30.5 billion. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the October 11 press release issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, U.S. International Trade in Goods and Services: August 2007. The next release is November 9, 2007. Contacts: Services: Ralph Stewart 202-606-2649 Goods: Joe Kafchinski 301-763-2311 Bureau of Economic Analysis, U.S. Department of Commerce U.S. Census Bureau, U.S. Department of Commerce
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