May 2018 Trade Gap is $43.1 Billion

The U.S. monthly international trade deficit decreased in May 2018 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $46.1 billion in April (revised) to $43.1 billion in May, as exports increased more than imports. The previously published April deficit was $46.2 billion. The goods deficit decreased $2.6 billion in May to $65.8 billion. The services surplus increased $0.5 billion in May to $22.7 billion.

International Investment

Exports of goods and services increased $4.1 billion, or 1.9 percent, in May to $215.3 billion. Exports of goods increased $3.7 billion and exports of services increased $0.4 billion.

  • The increase in exports of goods mostly reflected increases in capital goods ($2.0 billion), in foods, feeds, and beverages ($1.7 billion), and in other goods ($0.9 billion). A decrease in industrial supplies and materials ($1.3 billion) partly offset the increases.
  • The increase in exports of services mostly reflected increases in transport ($0.1 billion), in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related, and other services, and in financial services ($0.1 billion).

Imports of goods and services increased $1.1 billion, or 0.4 percent, in May to $258.4 billion. Imports of goods increased $1.1 billion and imports of services decreased $0.1 billion.

  • The increase in imports of goods mostly reflected an increase in capital goods ($2.1 billion). Decreases in consumer goods ($0.5 billion), in other goods ($0.4 billion), and in automotive vehicles, parts, and engines ($0.3 billion) partly offset the increase.
  • The decrease in imports of services mostly reflected decreases in transport ($0.1 billion) and in travel (for all purposes including education) ($0.1 billion). An increase in other business services($0.1 billion) partly offset the decreases.

For more information, read the full report. 

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