Wednesday, November 19, 2025 from BEA

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $59.6 billion in August, down $18.6 billion from $78.2 billion in July, revised.

Exports, Imports, and Balance (exhibit 1)

August exports were $280.8 billion, $0.2 billion more than July exports. August imports were $340.4 billion, $18.4 billion less than July imports.

The August decrease in the goods and services deficit reflected a decrease in the goods deficit of $18.1 billion to $85.6 billion and an increase in the services surplus of $0.5 billion to $26.1 billion.

Year-to-date, the goods and services deficit increased $142.5 billion, or 25.0 percent, from the same period in 2024. Exports increased $108.4 billion or 5.1 percent. Imports increased $250.9 billion or 9.2 percent.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit decreased $3.9 billion to $65.6 billion for the three months ending in August.

• Average exports increased $0.1 billion to $280.4 billion in August.
• Average imports decreased $3.7 billion to $346.0 billion in August.

Year-over-year, the average goods and services deficit decreased $9.0 billion from the three months ending in August 2024.

• Average exports increased $8.6 billion from August 2024.
• Average imports decreased $0.4 billion from August 2024.

Exports (exhibits 3, 6, and 7)

Exports of goods decreased $0.5 billion to $179.0 billion in August.

Exports of goods on a Census basis decreased $0.3 billion.

• Consumer goods decreased $1.5 billion.
  • Pharmaceutical preparations decreased $1.2 billion.
• Industrial supplies and materials decreased $0.6 billion.
  • Nonmonetary gold decreased $1.1 billion.
  • Crude oil increased $0.8 billion.
• Automotive vehicles, parts, and engines decreased $0.4 billion.
• Capital goods increased $2.4 billion.
  • Computers increased $2.3 billion.

Net balance of payments adjustments decreased $0.2 billion.

Exports of services increased $0.8 billion to $101.8 billion in August.

• Travel increased $0.3 billion.
• Maintenance and repair services increased $0.2 billion.
• Charges for the use of intellectual property increased $0.2 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods decreased $18.6 billion to $264.6 billion in August.

Imports of goods on a Census basis decreased $18.7 billion.

• Industrial supplies and materials decreased $11.3 billion.
  • Nonmonetary gold decreased $9.3 billion.
• Consumer goods decreased $3.7 billion.
  • Jewelry decreased $0.8 billion.
  • Pharmaceutical preparations decreased $0.7 billion.
• Capital goods decreased $3.4 billion.
  • Computer accessories decreased $1.3 billion.
  • Telecommunications equipment decreased $1.1 billion.
  • Computers increased $2.3 billion.
• Foods, feeds, and beverages decreased $1.6 billion.

Net balance of payments adjustments increased less than $0.1 billion.

Imports of services increased $0.3 billion to $75.8 billion in August.

• Other business services increased $0.1 billion.
• Telecommunications, computer, and information services increased $0.1 billion.
• Travel increased $0.1 billion.
• Transport decreased $0.1 billion.

Real Goods in 2017 Dollars – Census Basis (exhibit 11)

The real goods deficit decreased $17.1 billion, or 16.9 percent, to $83.7 billion in August, compared to a 17.9 percent decrease in the nominal deficit.

• Real exports of goods decreased $0.6 billion, or 0.4 percent, to $145.5 billion, compared to a 0.2 percent decrease in nominal exports.
• Real imports of goods decreased $17.7 billion, or 7.2 percent, to $229.1 billion, compared to a 6.6 percent decrease in nominal imports.

Revisions

Revisions to July exports

• Exports of goods were revised up $0.1 billion.
• Exports of services were revised up less than $0.1 billion.

Revisions to July imports

• Imports of goods were revised down less than $0.1 billion.
• Imports of services were revised up less than $0.1 billion.

Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)

The August figures show surpluses, in billions of dollars, with Netherlands ($5.1), South and Central America ($4.9), Hong Kong ($1.7), Australia ($1.6), Brazil ($1.2), Singapore ($0.9), United Kingdom ($0.8), Belgium ($0.5), and Saudi Arabia ($0.3). Deficits were recorded, in billions of dollars, with Mexico ($16.3), China ($15.4), Vietnam ($14.4), Taiwan ($12.2), European Union ($8.1), Japan ($5.7), South Korea ($5.0), India ($4.8), Germany ($4.6), Canada ($3.0), Ireland ($3.0), Malaysia ($1.8), Italy ($1.6), France ($1.2), Israel ($0.4), and Switzerland ($0.1).

• The deficit with Switzerland decreased $7.6 billion to $0.1 billion in August. Exports increased $0.8 billion to $3.7 billion and imports decreased $6.8 billion to $3.8 billion.
• The deficit with Canada decreased $2.4 billion to $3.0 billion in August. Exports increased $0.7 billion to $26.8 billion and imports decreased $1.7 billion to $29.7 billion.
• The surplus with the United Kingdom decreased $0.9 billion to $0.8 billion in August. Exports decreased $0.8 billion to $6.5 billion and imports increased $0.1 billion to $5.6 billion.

All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.