U.S. trade deficit jumps 13.7% to $105.6 billion in August

The U.S. goods-and-services trade deficit widened 13.7% in August to $105.6 billion as imports rose more than exports, according to figures reported October 6 by the Census Bureau and Bureau of Economic Analysis. The agencies put the increase at $12.7 billion from July’s revised $92.8 billion.

Exports grew by $4.5 billion to $315.2 billion, while imports rose $17.2 billion to $420.8 billion. The displayed monthly balances are rounded: subtracting July’s figure from August’s gives $12.8 billion, rather than the agencies’ reported $12.7 billion change.

Goods imports account for the monthly shift

The goods deficit increased $12.8 billion in August to $136.6 billion. The services surplus rose by less than $0.1 billion to $31.0 billion, leaving it nearly unchanged. Because the goods-and-services balance combines the goods deficit and services surplus, the sharp deterioration in goods outweighed the small improvement in services.

Goods imports totaled $342.2 billion, up $17.2 billion for the month. Within that category, capital-goods imports rose $6.2 billion. Semiconductor imports accounted for a $2.4 billion increase. The Census Bureau said capital-goods imports reached $146.4 billion, a record for the category. It also reported record August import values from Mexico, at $60.6 billion, and Vietnam, at $26.5 billion.

Those figures identify where some of the monthly movement occurred, but do not establish why imports increased. The headline trade statistics are adjusted for seasonal patterns, but not for price changes; they therefore do not measure trade volumes after accounting for prices.

The year-to-date deficit remains below 2025

August’s widening did not reverse the year-to-date comparison. From January through August, the deficit was $138.2 billion, or 19.9%, lower than during the same period in 2025. Exports over those eight months rose $267.7 billion, or 11.8%, while imports increased $129.5 billion, or 4.4%. Both flows were higher year over year, but the increase in exports was larger in dollar terms.

A three-month comparison also showed recent widening. The average monthly deficit for the three months ending in August was $89.9 billion, up $9.9 billion from the preceding three-month period. That average was $25.4 billion higher than the average for the three months ending in August 2025. Looking beyond a single month gives a different comparison from the year-to-date total: the recent three-month average rose, while the accumulated deficit through August remained substantially below its 2025 level.

The August result exceeded the $102.0 billion deficit forecast in a Reuters poll of economists. That figure is a surveyed forecast, not an official benchmark. The monthly totals describe the value of reported trade, and the release does not by itself establish the reasons for the changes or their eventual economic effects. The next monthly report, covering September 2026, is scheduled for November 4.