US Trade Deficit Widens as Imports, Exports Fall

The U.S. trade deficit increased $1.5 billion in August over July to $59.3 billion as imports and exports declined.

August goods exports of $128.5 billion fell $2.1 billion from July, while imports edged down by $700 million to $187.8 billion, the U.S. Commerce Department announced. 

Leading the decline in exports were industrial supplies; foods, feeds and beverages; consumer goods; and automotive. Exports of capital and other goods increased.

Import segments showing significant declines included consumer goods; automotive and capital goods. Industrial supplies and foods, feeds and beverages led the import gains. 

Both goods imports and exports increased year-over-year.