The U.S. goods and services deficit was $59.6 billion in August 2025, down from $78.2 billion in July, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Exports reached $280.8 billion, increasing by $0.2 billion, while imports fell to $340.4 billion, decreasing by $18.4 billion.
The August decline reflected a goods deficit reduction of $18.1 billion to $85.6 billion and a services surplus increase of $0.5 billion to $26.1 billion. Year to date, the overall deficit rose by $142.5 billion, or 25.0%, from the same period in 2024. Exports increased by $108.4 billion, or 5.1%, and imports increased by $250.9 billion, or 9.2%.
The three-month moving average deficit decreased by $3.9 billion to $65.6 billion for the period ending in August. Average exports increased by $0.1 billion to $280.4 billion, while average imports decreased by $3.7 billion to $346.0 billion. Compared with the same three-month period in 2024, the deficit fell by $9.0 billion, with average exports up by $8.6 billion and imports down by $0.4 billion.
Exports of goods decreased by $0.5 billion to $179.0 billion. Consumer goods exports fell by $1.5 billion, including a $1.2 billion decline in pharmaceutical preparations. Industrial supplies and materials exports decreased by $0.6 billion, as nonmonetary gold exports dropped by $1.1 billion while crude oil exports rose by $0.8 billion. Capital goods exports increased by $2.4 billion, led by a $2.3 billion rise in computers. Exports of services increased by $0.8 billion to $101.8 billion, supported by gains in travel, maintenance and repair, and charges for the use of intellectual property.
Imports of goods fell by $18.6 billion to $264.6 billion. Industrial supplies and materials imports dropped by $11.3 billion, mainly due to a $9.3 billion decline in nonmonetary gold. Consumer goods imports decreased by $3.7 billion, including a $0.8 billion decline in jewelry and $0.7 billion in pharmaceutical preparations. Capital goods imports fell by $3.4 billion, as computer accessories declined by $1.3 billion and telecommunications equipment by $1.1 billion, partly offset by a $2.3 billion increase in computers. Imports of services rose by $0.3 billion to $75.8 billion, driven by higher business, telecommunications, and travel services.
In real 2017 dollars, the goods deficit decreased by $17.1 billion, or 16.9%, to $83.7 billion. Real exports of goods declined by $0.6 billion, or 0.4%, to $145.5 billion, while real imports decreased by $17.7 billion, or 7.2%, to $229.1 billion.
Among major trading partners, the United States recorded surpluses with the Netherlands ($5.1 billion), South and Central America ($4.9 billion), Hong Kong ($1.7 billion), Australia ($1.6 billion), and Brazil ($1.2 billion). Deficits were registered with Mexico ($16.3 billion), China ($15.4 billion), Vietnam ($14.4 billion), Taiwan ($12.2 billion), and the European Union ($8.1 billion).
The deficit with Switzerland narrowed by $7.6 billion to $0.1 billion as exports rose to $3.7 billion and imports fell to $3.8 billion. The deficit with Canada decreased by $2.4 billion to $3.0 billion, with exports increasing to $26.8 billion and imports declining to $29.7 billion. The surplus with the United Kingdom decreased by $0.9 billion to $0.8 billion as exports fell to $6.5 billion and imports rose to $5.6 billion.
