By Kevin Kastner
WASHINGTON (MNI) – The U.S. international trade gap widened in
August to $44.2 billion from a revised $42.5 billion gap in July, with
the key factor being a jump in energy products imports, data released by
the Commerce Department Thursday morning showed.
The goods gap widened to $59.3 billion from $57.8 billion in the
previous month, due entirely to a petroleum gap that widened to $23.5
billion from the $21.0 billion gap in July
Excluding petroleum, the goods gap would have been $35.3 billion,
smaller than the $36.3 billion gap in the previous month.
Industrial supply imports jumped $1.5 billion in August, with
imports of petroleum products, crude oil, and fuel oil all up on an
increase in prices after a decline in July.
The remaining import prices were down, however, with a $1.2 billion
decline in consumer goods the main negative factor. There were also
import declines for capital goods and autos.
Goods exports were pulled down by sharp declines in foods,
industrial supplies, autos, and consumer goods. These were offset by a
modest rise in capital goods exports.
The services surplus narrowed slightly to $15.1 billion in August
from $15.4 billion in July. Services exports and imports were both up in
the month.
The country data showed wider bilateral gaps with the EU, China,
and Japan, but a slightly wider gap with Canada.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
