US Trade Deficit Widens in May


United States trade deficit grew in May, as stronger demand resulted in higher imports and sluggish growth abroad pushed exports lower.


May exports of $187.1 billion and imports of $232.1 billion resulted in a goods and services deficit of $45.0 billion, up from $40.1 billion in April, revised. May exports were $0.5 billion less than April exports of $187.6 billion. May imports were $4.4 billion more than April imports of $227.7 billion.

In May, the goods deficit increased $5.0 billion from April to $63.4 billion, and the services surplus increased $0.2 billion from April to $18.4 billion. Exports of goods decreased $0.9 billion to $130.3 billion, and imports of goods increased $4.2 billion to $193.7 billion. Exports of services increased $0.4 billion to $56.8 billion, and imports of services increased $0.2 billion to $38.4 billion.

The goods and services deficit decreased $1.2 billion from May 2012 to May 2013. Exports were up $2.8 billion, or 1.5 percent, and imports were up $1.6 billion, or 0.7 percent.

The April to May decrease in exports of goods reflected decreases in consumer goods ($1.2 billion); industrial supplies and materials ($0.9 billion); and foods, feeds, and beverages ($0.1 billion).  Increases occurred in capital goods ($0.8 billion); automotive vehicles, parts, and engines ($0.3 billion); and other goods ($0.2 billion).

The April to May increase in imports of goods reflected increases in industrial supplies and materials ($1.0 billion); consumer goods ($1.0 billion); automotive vehicles, parts, and engines ($0.8 billion); other goods ($0.5 billion); foods, feeds, and beverages ($0.4 billion); and capital goods ($0.3 billion).

Exports of goods were virtually unchanged from May 2012 to May 2013.  Decreases occurred in foods, feeds, and beverages ($1.7 billion) and industrial supplies and materials ($1.0 billion). Increases occurred in automotive vehicles, parts, and engines ($0.9 billion); other goods ($0.6 billion); consumer goods ($0.6 billion); and capital goods ($0.5 billion).

The May 2012 to May 2013 increase in imports of goods reflected increases in consumer goods ($2.0 billion); automotive vehicles, parts, and engines ($1.3 billion); other goods ($0.9 billion); and foods, feeds, and beverages ($0.8 billion).  Decreases occurred in industrial supplies and materials ($3.9 billion) and capital goods ($1.1 billion).


US Trade Deficit Widens in May


U.S. Census Bureau | anna@tradingeconomics.com
7/3/2013 1:43:29 PM