America imported a record $420.8 billion in goods and services in August, pushing its monthly trade deficit to $105.6 billion as purchases from abroad increased much faster than exports.
The joint release published Tuesday, October 6, by the U.S. Bureau of Economic Analysis and U.S. Census Bureau showed the deficit widening 13.7% from July's revised $92.8 billion. The figures describe August trade, rather than transactions made this month.
Exports increased 1.4% to $315.2 billion, while imports climbed 4.3%. Imports added $17.2 billion from the previous month, compared with a $4.5 billion increase in exports.
Goods drove the wider gap
The deterioration came from merchandise trade. The goods deficit increased $12.8 billion to $136.6 billion, while the services surplus edged up by less than $0.1 billion to $31.0 billion.
Goods imports reached $342.2 billion. Industrial supplies and materials contributed a $9.1 billion increase, including $3.3 billion more in crude oil imports and $3.1 billion more in nonmonetary gold.
Capital-goods imports increased $6.2 billion. Within that category, semiconductor imports rose $2.4 billion and other industrial machinery increased $1.3 billion. The gains were partly offset by a $1.6 billion decline in computer accessories.
Services imports changed little, reaching $78.5 billion. That contrast shows that the widening overall gap was concentrated in goods, rather than a broad surge across both parts of the trade account.
Exports rose, but could not keep pace
Goods exports increased $4.4 billion to $205.7 billion, with gains in industrial supplies and materials outweighing weaker consumer-goods shipments. Nonmonetary gold and crude oil were among the contributors, while pharmaceutical exports declined.
Services exports were nearly unchanged at $109.5 billion. The services surplus continued to offset part of the merchandise deficit, but was too small to prevent the combined shortfall from expanding.
The annual picture remains different
Despite August's wider gap, the goods-and-services deficit for the first eight months of 2026 was 19.9% smaller than during the same period in 2025. Over that period, exports increased 11.8%, while imports rose 4.4%.
The monthly deterioration and the year-to-date improvement therefore tell different stories. August imports set a new high, but that does not mean the cumulative deficit has reached a new record.
The figures are seasonally adjusted and are not adjusted for price changes. They measure the dollar value of trade, so changes in prices can affect the totals alongside changes in the quantity of goods and services traded. The next report, covering September, is scheduled for November 4.