by Calculated Risk on 10/09/2009 08:37:00 AM
Friday, October 09, 2009
Trade Deficit Decreases Slightly in August
The Census Bureau reports:
The ... total August exports of $128.2 billion and imports of $158.9 billion resulted in a goods and services deficit of $30.7 billion, down from $31.9 billion in July, revised. August exports were $0.2 billion more than July exports of $128.0 billion. August imports were $0.9 billion less than July imports of $159.8 billion.

The first graph shows the monthly U.S. exports and imports in dollars through August 2009.
Imports were down in August, and exports increased slightly. On a year-over-year basis, exports are off 21% and imports are off 29%.
The second graph shows the U.S. trade deficit, with and without petroleum, through August.

Import oil prices increased to $64.75 in August - up more than 50% from the prices in February (at $39.22) - and the sixth monthly increase in a row. Import oil prices will probably rise further in September.
It appears the cliff diving for U.S. trade is over. The weaker dollar is probably helping exports - and hurting imports.