U.S. Trade Deficit Narrows In June


U.S. trade deficit narrowed in June to its lowest level in more than 3-1/2 years as exports increased 2.2 percent and imports fell 2.5 percent.

In June, the goods deficit decreased $9.7 billion from May to $53.2 billion, and the services surplus increased $0.2 billion from May to $18.9 billion. Exports of goods increased $4.0 billion to $134.3 billion, and imports of goods decreased $5.7 billion to $187.4 billion. Exports of services increased $0.1 billion to $56.9 billion, and imports of services were virtually unchanged at $38.0 billion.

The May to June increase in exports of goods reflected increases in industrial supplies and materials ($1.5 billion); capital goods ($1.5 billion); consumer goods ($1.0 billion); foods, feeds, and beverages ($0.3 billion); and other goods ($0.3 billion). A decrease occurred in automotive vehicles, parts, and engines ($0.4 billion).

The May to June decrease in imports of goods reflected decreases in industrial supplies and materials ($2.5 billion); consumer goods ($1.6 billion); other goods ($1.2 billion); foods, feeds, and beverages ($0.4 billion); and automotive vehicles, parts, and engines ($0.3 billion). Capital goods were virtually unchanged.

The June figures show surpluses, in billions of dollars, with Hong Kong $3.4 ($3.0 for May), Australia $1.7 ($1.4), Brazil $1.6 ($0.9), and Singapore $1.2 ($1.2). Deficits were recorded, in billions of dollars, with China $26.6 ($27.9), European Union $7.1 ($10.8), OPEC $5.8 ($6.3), Japan $5.5 ($5.4), Germany $4.9 ($5.8), Mexico $4.8 ($5.3), Saudi Arabia $3.0 ($2.7), Korea $1.6 ($2.5), Canada $1.6 ($1.9), Ireland $1.4 ($2.3), Venezuela $1.2 ($1.5), and India $1.0 ($2.3).



U.S. Trade Deficit Narrows In June


U.S. Census Bureau, anna@tradingeconomics.com
8/6/2013 1:48:09 PM