The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced Tuesday that the goods and services deficit was $67.1 billion in August, up $3.71 billion from $63.4 billion in July, revised.
Exports and imports increased in August but remained below pre-pandemic levels, reflecting the ongoing impact of COVID-19, as many businesses continued to operate at limited capacity or ceased operations completely, and the movement of travelers across borders remained restricted.
August exports were $171.9 billion, $3.6 billion more than July exports. August imports were $239.0 billion, $7.4 billion more than July imports.
The August increase in the goods and services deficit reflected an increase in the goods deficit of $3.0 billion to $83.9 billion and a decrease in the services surplus of $0.7 billion to $16.8 billion.
Year-to-date, the goods and services deficit increased $22.6 billion, or 5.7%, from the same period in 2019. Exports decreased $296.1 billion or 17.6%. Imports decreased $273.5 billion or 13.1%.