Research >> Economics
Goods and Services Deficit Decreased in June 2020
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The nation's international trade deficit in goods and services decreased to $50.7 billion in June from $54.8 billion in May (revised), as exports increased more than imports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.7 billion in June, down $4.1 billion from $54.8 billion in May, revised.
June exports were $158.3 billion, $13.6 billion more than May exports. June imports were $208.9 billion, $9.5 billion more than May imports. The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $4.0 billion to $72.2 billion and an increase in the services surplus of $0.1 billion to $21.5 billion. Year-to-date, the goods and services deficit decreased $23.1 billion, or 7.8 percent, from the same period in 2019. Exports decreased $199.1 billion or 15.7 percent. Imports decreased $222.3 billion or 14.2 percent.
The average goods and services deficit increased $2.8 billion to $51.8 billion for the three months ending in June.
• Average exports decreased $10.6 billion to $151.4 billion in June.
• Average imports decreased $7.9 billion to $203.1 billion in June.
Year-over-year, the average goods and services deficit increased $1.0 billion from the three months ending in June 2019.
• Average exports decreased $59.1 billion from June 2019.
• Average imports decreased $58.1 billion from June 2019.
Posted: August 5, 2020 Wednesday 08:30 AM