U.S. Trade Deficit Decreases in August
Oct 21, 2001
The U.S. trade deficit in August was $27.1 billion,$2.1 billion less than the $29.2 billion in July, 2001 according to the Bureau of the Census and the Bureau of Economic Analysis trade data released October 19, 2001.
August exports were $84.5 billion, almost $0.9 billion above July exports of $83.6 billion. The increase was the result of an increase in goods exports of $0.8 billion and an increase in services exports of $0.1 billion due to the weaker dollar. Imports for the same month were $111.6 billion, $1.2 billion less than July imports of $112.8 billion also as a result of a weaker dollar and reduce demand in the U.S..
The services surplus was virtually unchanged at $6.7 billion after both exports and imports of services increased by $100 million. Services exports reached $25.0 billion from $24.9 billion in July, while imports of services increased to $18.3 billion from $18.2 billion.
The increase in services exports resulted from increases in travel and passenger fares, while other services exports remained almost unchanged.
Services imports increase reflected small increases in most services categories.
The full press release from the Bureau of Economic Analysis can be downloaded from:
The monthly data for all services categories can be downloaded from the statistics section of SiTrends.org.
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