May 2015 Trade Gap is $41.9 Billion

The U.S. monthly international trade deficit increased in May 2015 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $40.7 billion in April (revised) to $41.9 billion in May, as exports decreased more than imports. The previously published April deficit was $40.9 billion. The goods deficit increased $1.2 billion from April to $61.5 billion in May. The services surplus increased less than $0.1 billion from April to $19.6 billion in May.

balance on goods and services trade july 7

Exports
Exports of goods and services decreased $1.5 billion, or 0.8 percent, in May to $188.6 billion. Exports of goods decreased $1.6 billion and exports of services increased $0.1 billion.

  • The decrease in exports of goods mainly reflected a decreased in capital goods ($2.4 billion). An increase in industrial supplies and materials ($0.8 billion) was partly offsetting.
  • The increase in exports of services mainly reflected an increase in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related and other services.

Imports
Imports of goods and services decreased $0.3 billion, or 0.1 percent, in May to $230.5 billion. Imports of goods decreased $0.4 billion and imports of services increased $0.1 billion.

  • The decrease in imports of goods mainly reflected decreases in capital goods ($0.8 billion) and in industrial supplies and materials ($0.6 billion). An increase in automotive vehicles, parts, and engines ($0.8 billion) was partly offsetting.
  • The increase in imports of services mainly reflected an increase in transport ($0.1 billion), which includes freight and port services and passenger fares.

Goods by geographic area (seasonally adjusted, Census basis)

  • The goods deficit with China increased from $27.5 billion in April to $30.6 billion in May. Exports decreased $0.7 billion to $9.6 billion and imports increased $2.4 billion to $40.2 billion.
  • The goods deficit with the European Union increased from $11.9 billion in April to $13.4 billion in May. Exports decreased $0.1 billion to $22.6 billion and imports increased $0.4 billion to $36.0 billion.
  • The goods surplus with South and Central America increased from $3.0 billion in April to $4.2 billion in May. Exports increased $0.8 billion to $13.7 billion and imports decreased $0.4 billion to $9.5 billion.

For more information, read the full report.


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