US trade deficit widened in August 2026 as imports surged
The U.S. goods and services trade deficit increased to $105.6 billion in August, a $12.7 billion rise from July, driven by a sharp jump in imports that far outpaced export growth.
The US trade deficit widened to $105.6 billion in August 2026. The gap grew by $12.7 billion from a revised July figure of $92.8 billion. A surge in imports was the primary driver. Imports climbed $17.2 billion to reach $420.8 billion for the month. Exports also grew, but more modestly, rising $4.5 billion to $315.2 billion.
The U.S. Census Bureau and Bureau of Economic Analysis (BEA) said: "The goods and services deficit was $105.6 billion in August, up $12.7 billion from $92.8 billion in July, revised."
Goods deficit leads the deterioration
The entire monthly deterioration stemmed from the goods sector. The goods deficit expanded by $12.8 billion to reach $136.6 billion in August. In contrast, the services surplus was virtually unchanged at $31.0 billion, increasing by less than $0.1 billion from July.
Goods exports increased by $4.4 billion to $205.7 billion. Goods imports, however, rose far more sharply.
Export growth concentrated in industrial and energy categories
Export gains, while overshadowed by import growth, were led by specific industrial and energy products. The increases in key categories from July to August were substantial.
| Category | Increase (in billions) |
|---|---|
| Industrial supplies and materials | $6.3 |
| Nonmonetary gold | $2.3 |
| Crude oil | $2.0 |
| Fuel oil | $1.2 |
| Capital goods | $1.3 |
| Semiconductors | $1.0 |
| Computers | $0.9 |
Broader trends show improving annual balance despite monthly rise
Despite the August setback, the broader trend for 2026 remains positive. Year-to-date, the goods and services deficit has decreased by $138.2 billion compared to the same period in 2025. That represents a decline of 19.9 percent.
The improvement over the first eight months of the year reflects stronger export growth relative to imports. Exports are up $267.7 billion, or 11.8 percent, year-to-date. Imports have increased by a smaller $129.5 billion, or 4.4 percent.
Three-month average signals persistent upward pressure
A three-month moving average, which smooths monthly volatility, also points to widening pressure. The average deficit increased by $9.9 billion to $89.9 billion for the three months ending in August.
The rise in the moving average was driven by a $8.3 billion increase in average imports to $404.3 billion. Average exports over the same three-month period actually decreased by $1.6 billion to $314.4 billion.
Year-over-year comparisons of this three-month average show significant shifts. The deficit is $25.4 billion higher than it was for the three months ending in August 2025. Exports in the average are up $31.1 billion year-over-year, but imports have grown by a much larger $56.5 billion.
The next release of the international trade data is scheduled for Wednesday, November 4, 2026.
