The U.S. monthly international trade deficit increased in May 2013, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $40.1 billion in April (revised) to $45.0 billion in May as exports decreased and imports increased. The previously published April deficit was $40.3 billion. The goods deficit increased $5.0 billion from April to $63.4 billion in May; the services surplus increased $0.2 billion from April to $18.4 billion in May.
Exports of goods and services decreased $0.5 billion in May to $187.1 billion reflecting a decrease in exports of goods. Exports of services increased.
• The largest decreases in exports of goods were in consumer goods and in industrial supplies and materials.
• The largest increases in exports of services were in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services, and in passenger fares.
Imports of goods and services increased $4.4 billion in May to $232.1 billion mostly reflecting an increase in imports of goods. Imports of services also increased.
• The largest increases in imports of goods were in industrial supplies and materials, in consumer goods, and in automotive vehicles, parts, and engines.
• The largest increases in imports of services were in passenger fares and in travel.
Goods by geographic area (not seasonally adjusted)
• The goods deficit with the European Union decreased from $12.4 billion in April to $10.8 billion in May. Exports increased $1.3 billion to $22.5 billion, while imports decreased $0.3 billion to $33.3 billion.
• The goods deficit with China increased from $24.1 billion in April to $27.9 billion in May. Exports decreased $0.2 billion to $8.8 billion, while imports increased $3.5 billion to $36.6 billion.
• The goods deficit with Japan decreased from $6.9 billion in April to $5.4 billion in May. Exports increased $0.7 billion to $5.8 billion, while imports decreased $0.8 billion to $11.2 billion.
To learn more about U.S. international trade in goods and services, read the full report.