US exports of goods and services reached $189.2 billion in August, less than $189.2 billion in July.
However, exports for the 12-months ending in August 2013 ($2.2 trillion) were 42% higher than during the same period in 2009.
With imports at $228.0 billion, there was a goods and services deficit of $38.8 billion for August 2013, compared to $38.6 billion the month before. July’s import figures were identical to August’s.
In June 2013, US exports reached an all-time record $190.5 billion, according to the BEA (Bureau of Economic Analysis).
Over the past 12 months, US exports have been growing at 10.1% (annualized) compared to 2009.
Fred P. Hochberg, chairman and president of Ex-Im Bank (Export-Import Bank of the United States), said:
“Our exporters continue to drive the U.S. economy and employ more American workers in high-paying, skilled export-related jobs, especially in the manufacturing sector. Every month brings us closer toward achieving President Obama’s ambitious goal of doubling US exports by 2015.”
Over the last year, the following major U.S. export markets saw the greatest growth (‘major’ refers to exports worth at least $6 billion annually):
- Panama – 28.8%
- Russia – 22%
- United Arab Emirates – 21.2%
- Peru – 20.9%
- Hong Kong – 20.4%
- Chile – 20.3%
- Columbia – 19.3%
- Argentina – 17.3%
- Ecuador – 17.6%
- South Africa – 17.5%
US exports and imports – Goods
Exports
In August, US exports in comparison to July of industrial supplies and materials fell ($1.3 billion), as did beverages, feeds and foods ($0.4 billion).
During the same period, exports of automotive engines, parts and vehicles increased ($0.7 billion), as did consumer goods ($0.3 billion), capital goods ($0.2 billion) and other goods ($0.2 billion).
Imports
Imports in August in comparison to July fell in consumer goods by $0.8 billion, industrial supplies and materials by $o.2 billion, and vehicle engines and parts by$0.2 billion.
The following imports during the same period increased: capital goods by $1 billion and other goods by $0.1 billion. Imports of feeds and beverages remained virtually the same.
Exports during the 12-month period to August 2013
Exports of industrial supplies and materials rose by $3.2 billion; automotive vehicles, engines and parts by $1 billion; capital goods by $0.6 billion; consumer goods $0.6 billion; and other goods by $0.5 billion.
Beverages and feeds fell by $1.4 billion.
Imports during 12-month period to August 2013
Consumer goods imports rose by $1.3 billion: capital goods by $1.2 billion: automotive vehicles, engines and parts by $1.1 billion: beverages, foods and feeds by $0.4 billion: and other goods by $0.3 billion.
Industrial supplies and material fell by $2.5 billion.