THE TRADE INBALANCE! THE THING THAT PNLK WILL CHANGE!
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U.S. International Trade in Goods and Services Highlights
Bureau of the Census
Bureau of Economic Analysis
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Tuesday, October 20, 1998
Goods and Services Deficit Increases in August 1998
The Nation's international deficit in goods and services increased to $16.8 billion in August, from $14.5 billion (revised) in July as imports increased and exports decreased.
Goods and Services
Exports decreased to $74.8 billion from $75.1 billion in July. Goods were $53.7 billion in August, down from $53.8 billion in July, and services were $21.1 billion in August, down from $21.3 billion in July.
Imports increased to $91.6 billion from $89.6 billion in July. Goods were $76.9 billion in August, up from $74.9 billion in July, and services were $14.7 billion in August, down from $14.8 billion in July.
For goods, the deficit was $23.2 billion in August, up from $21.0 billion in July. For services, the surplus was $6.4 billion in August, down from $6.5 billion in July.
Goods by Category
The largest increases in exports were in automotive vehicles, parts, and engines (primarily parts and accessories), other goods (primarily military equipment), and industrial supplies and materials (primarily nonmonetary gold). The largest decrease was in capital goods (primarily civilian aircraft).
The largest increases in exports were in automotive vehicles, parts, and engines (primarily automobiles) and in industrial supplies and materials (primarily iron and steel products). The largest decrease was in consumer goods (primarily pharmaceutical products).
Goods by Geographic Area (Not Seasonally Adjusted)
The goods deficit with Mexico increased from $1.1 billion in July to $1.8 billion in August. Exports remained virtually unchanged in August at $6.2 billion, while imports increased $0.6 billion (primarily automobiles and automobile parts, telecommunications equipment, and electrical machinery) to $8.0 billion.
The goods deficit with Western Europe decreased from $5.1 billion in July to $2.2 billion in August. Exports increased $0.8 billion (primarily nonmonetary gold and aircraft) to $12.9 billion, while imports decreased $2.1 billion (primarily aircraft and pharmaceutical products) to $15.1 billion.
The goods deficit with China increased from $5.4 billion in July to $5.9 billion in August. Exports decreased $0.2 billion (primarily aircraft and fertilizers) to $0.9 billion, while imports increased $0.3 billion (primarily toys and telecommunications equipment) to $6.8 billion.
This and more information is provided in the Bureau of the Census and Bureau of Economic Analysis press release, U.S.International Trade in Goods and Services: August 1998 . For further information on goods, contact Richard M. Preuss, Foreign Trade Division, Bureau of the Census, on (301) 457-2311; on services, contact Christopher Bach, Bureau of Economic Analysis, on (202) 606-9545.
The next release is November 18, 1998
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