June 2016 Trade Gap is $44.5 Billion

The U.S. monthly international trade deficit increased in June 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $41.0 billion in May (revised) to $44.5 billion in June, as imports increased more than exports. The previously published May deficit was $41.1 billion. The goods deficit increased $3.8 billion in June to $66.0 billion. The services surplus increased $0.3 billion to $21.5 billion.

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Exports
Exports of goods and services increased $0.6 billion, or 0.3 percent, in June to $183.2 billion. Exports of goods increased $0.5 billion and exports of services increased $0.1 billion.
• The increase in exports of goods mainly reflected increases in foods, feeds, and beverages ($0.6 billion) and in consumer goods ($0.4 billion). A decrease in automotive vehicles, parts, and engines ($0.4 billion) was partly offsetting. • The increase in exports of services mainly reflected increases in financial services ($0.1 billion) and in maintenance and repair services ($0.1 billion).

Imports
Imports of goods and services increased $4.2 billion, or 1.9 percent, in June to $227.7 billion. Imports of goods increased $4.4 billion and imports of services decreased $0.2 billion.
• The increase in imports of goods mainly reflected increases in industrial supplies and materials ($2.3 billion) and in consumer goods ($1.9 billion).
• The decrease in imports of services mainly reflected decreases in travel (for all purposes including education) ($0.1 billion) and in transport ($0.1 billion), which includes freight and port services and passenger fares.

Goods by geographic area (seasonally adjusted, Census basis)
• The deficit with Japan increased $1.0 billion to $6.0 billion in June. Exports decreased $0.4 billion and imports increased $0.6 billion.
• The deficit with the European Union increased $0.8 billion to $12.7 billion in June. Exports increased $0.9 billion and imports increased $1.7 billion.
• The deficit with Mexico decreased $0.8 billion to $4.7 billion in June. Exports increased $0.3 billion and imports decreased $0.5 billion.

For more information, read the full report.


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