U.S. Trade Deficit Widens in June


U.S. trade deficit in goods and services increased to $53.1 billion in June from $50.8 billion (revised) in May, as exports decreased more than imports.

Exports decreased to $170.9 billion in June from $175.0 billion in May. Goods were $121.2 billion in June, down from $125.3 billion in May, and services were $49.6 billion in June, down from $49.7 billion in May.

Imports decreased to $223.9 billion in June from $225.8 billion in May. Goods were $188.8 billion in June, down from $190.7 billion in May, and services were $35.1 billion in June, virtually unchanged from May.

For goods, the deficit was $67.6 billion in June, up from $65.4 billion in May. For services, the surplus was $14.5 billion in June, down from $14.6 billion in May.

The May to June decrease in exports of goods reflected decreases in industrial supplies and materials ($2.0 billion); capital goods ($1.5 billion); foods, feeds, and beverages ($0.8 billion); and other goods ($0.5 billion). An increase occurred in consumer goods ($0.7 billion). Automotive vechicles, parts, and engines were virtually unchanged.

The May to June decrease in imports of goods reflected decreases in industrial supplies and materials ($2.2 billion); automotive vechicles, parts, and engines ($0.2 billion); capital goods ($0.1 billion); and consumer goods ($0.1 billion). Increases occurred in other goods ($0.7 billion) and foods, feeds, and beverages ($0.1 billion).

The goods deficit with Canada increased from $2.7 billion in May to $2.8 billion in June. Exports decreased $0.3 billion (primarily fuel oil, passenger cars, and fertilizers) to $24.2 billion, while imports decreased $0.1 billion (primarily nonmonetary gold, petroleum products, and fertilizers) to $27.1 billion.

The goods deficit with China increased from $25.0 billion in May to $26.7 billion in June. Exports decreased $0.1 billion (primarily raw cotton, passenger cars, and pulpwood and woodpulp) to $7.7 billion, while imports increased $1.6 billion (primarily computers, apparel, and household goods) to $34.4 billion.

The goods deficit with Japan increased from $2.6 billion in May to $4.0 billion in June. Exports decreased $0.3 billion (primarily generators, fish and shellfish, and metallurgical grade coal) to $5.4 billion, while imports increased $1.1 billion (primarily passenger cars, computer accessories, and photo equipment) to $9.5 billion.


TradingEconomics.com, U.S. Census Bureau
8/11/2011 1:28:40 PM