Decrease in the USA's foreign trade deficit

The U.S. Department of Commerce has released foreign trade data for the month of August.

In August, the U.S. trade deficit reached its lowest level since September 2020, decreasing by 9.9% on a monthly basis and totaling $58.3 billion.

In July, the trade deficit was at $64.7 billion.

Expectations for this period were that the trade deficit would be $59.8 billion. The actual trade deficit came in below expectations, marking the lowest level since September 2020.

Exports in August increased by 1.6%, reaching $256 billion, the highest level in five months, while imports decreased by 0.7%, totaling $314.3 billion.