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Wednesday, October 5, 2022 Services: (301) 278-9003 Goods: (301) 763-2311 August 2022 Trade Gap is $67.4 Billion U.S. international trade in goods and services The U.S. monthly international trade deficit decreased in August 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $70.5 billion in July (revised) to $67.4 billion in August, as imports decreased more than exports. The previously published July deficit was $70.6 billion. The goods deficit decreased $3.4 billion in August to $87.6 billion. The services surplus decreased $0.4 billion in August to $20.2 billion. Monthly Goods and Services Trade Deficit January 2013–August 2022 Billion $ 120 110 100 90 80 70 60 50 40 30 20 10 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 U.S. Bureau of Economic Analysis U.S. Census Bureau Seasonally adjusted Exports Exports of goods and services decreased $0.7 billion, or 0.3 percent, in August to $258.9 billion. Exports of goods decreased $0.7 billion and exports of services decreased less than $0.1 billion. • The decrease in exports of goods reflected decreases in industrial supplies and materials ($2.2 billion) and in automotive vehicles, parts, and engines ($1.1 billion). An increase in consumer goods ($1.3 billion) partly offset the decreases. • The decrease in exports of services reflected a decrease in travel ($0.3 billion). Increases in other business services ($0.2 billion) and in financial services ($0.1 billion) partly offset the decrease. Imports Imports of goods and services decreased $3.7 billion, or 1.1 percent, in August to $326.3 billion. Imports of goods decreased $4.1 billion and imports of services increased $0.4 billion. • The decrease in imports of goods reflected decreases in industrial supplies and materials ($4.7 billion) and in capital goods ($1.1 billion). An increase in automotive vehicles, parts, and engines ($1.1 billion) partly offset the decreases. • The increase in imports of services reflected increases in travel ($0.3 billion) and in charges for the use of intellectual property ($0.1 billion). For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, August 2022. BEA statistics—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the October 5 news release, U.S. International Trade in Goods and Services, August 2022, issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The next release is November 3, 2022.
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