The US trade deficit significantly decreased in August

New York, November 19 (Xinhua) -- Data released by the US Department of Commerce on the 19th showed that the US trade deficit in goods and services in August was 59.6 billion US dollars, a decrease of 18.6 billion US dollars compared to the previous month, a decrease of 23.88%.

Due to insufficient federal government budget, operations have come to a halt, and the August US international trade data could not be released as originally planned on October 7th. The latest released data shows that the export value of goods and services from the United States in August was $280.8 billion, a slight increase of 0.1% compared to the previous month; The import value decreased by 5.1% month on month to 340.4 billion US dollars.

The US Department of Commerce stated that the decrease in the goods and services trade deficit in August was mainly due to a reduction of $18.1 billion to $85.6 billion in the goods trade deficit. Among them, the import value of industrial raw materials decreased by 11.3 billion US dollars, including a decrease of 9.3 billion US dollars in non monetary gold imports. The import value of consumer goods, capital goods, and food and beverage decreased by 3.7 billion US dollars, 3.4 billion US dollars, and 1.6 billion US dollars, respectively.