Research >> Economics
Goods and Services Deficit Decreased in June 2012
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The Nation’s international trade balance in goods and services improved to -$42.9 billion in June from -$48.0 billion in May (revised), as exports increased and imports decreased.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total June exports of $185.0 billion and imports of $227.9 billion resulted in a goods and services deficit of $42.9 billion, down from $48.0 billion in May, revised. June exports were $1.7 billion more than May exports of $183.3 billion. June imports were $3.5 billion less than May imports of $231.4 billion.
In June, the goods deficit decreased $5.4 billion from May to $57.5 billion, and the services surplus decreased $0.3 billion from May to $14.6 billion. Exports of goods increased $1.8 billion to $132.8 billion, and imports of goods decreased $3.6 billion to $190.3 billion. Exports of services decreased $0.2 billion to $52.2 billion, and imports of services increased $0.1 billion to $37.6 billion.
The goods and services deficit decreased $7.4 billion from June 2011 to June 2012. Exports were up $12.3 billion, or 7.1 percent, and imports were up $4.9 billion, or 2.2 percent.
Posted: August 9, 2012 Thursday 08:30 AM