by Calculated Risk on 10/06/2015 08:42:00 AM
Tuesday, October 06, 2015
Trade Deficit increased in August to $48.3 Billion
The Department of Commerce reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $48.3 billion in August, up $6.5 billion from $41.8 billion in July, revised. August exports were $185.1 billion, $3.7 billion less than July exports. August imports were $233.4 billion, $2.8 billion more than July imports.The trade deficit close to the consensus forecast of $48.6 billion.
The first graph shows the monthly U.S. exports and imports in dollars through August 2015.
Imports increased and exports decreased in August.
Exports are 12% above the pre-recession peak and down 6% compared to August 2014; imports are 1% above the pre-recession peak, and down 2% compared to August 2014.
The second graph shows the U.S. trade deficit, with and without petroleum.
Oil imports averaged $49.33 in August, down from $54.20 in July, and down from $96.34 in August 2014. The petroleum deficit has generally been declining and is the major reason the overall deficit has declined since early 2012.
The trade deficit with China increased to $35.0 billion in August, from $30.3 billion in August 2014. The deficit with China is a large portion of the overall deficit.