August 2011 International Trade

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According to data compiled by the Netherlands Bureau for Economic Policy Analysis, world trade volume rose by 1.3 percent in August from the previous month, following a revised increase of 1.0 percent in July. Import growth picked up in the Euro Area and, particularly strongly, in emerging economies. Exports from emerging Asia declined, however, as did exports from the United States. Euro Area exports continued to expand vigorously.

Prices rose 2.9 percent in August, to 26.9 percent above their February 2009 low.
 

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The U.S. goods and services deficit was virtually unchanged in August from July’s upwardly revised $45.6 billion. Exports totaled $177.6 billion, while imports totaled $223.2 billion.
 

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Paper exports increased by 19,000 tons (0.6 percent) in August, and imports expanded by 30,000 tons (7.7 percent). Exports remained 320,000 tons (11.2 percent) above year-earlier levels, and imports were 13,000 tons (3.2 percent) higher.
 

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Softwood lumber exports rose by 13 MMBF (9.1 percent) in August while imports retreated by 22 MMBF (2.8 percent). Exports were 35 MMBF (29.3 percent) higher than year-earlier levels, and imports were 28 MMBF (3.8 percent) higher.