Research >> Economics
Goods and Services Deficit Decreased in June 2022
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The nation's international trade deficit in goods and services decreased to $79.6 billion in June from $84.9 billion in May (revised), as exports increased and imports decreased. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised.
Exports, Imports, and Balance
June exports were $260.8 billion, $4.3 billion more than May exports. June imports were $340.4 billion, $1.0 billion less than May imports. The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $4.9 billion to $99.5 billion and an increase in the services surplus of $0.3 billion to $19.9 billion. Year-to-date, the goods and services deficit increased $134.1 billion, or 33.4 percent, from the same period in 2021. Exports increased $246.2 billion or 20.0 percent. Imports increased $380.3 billion or 23.3 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $9.3 billion to $83.7 billion for the three months ending
in June.
• Average exports increased $5.6 billion to $256.7 billion in June.
• Average imports decreased $3.8 billion to $340.5 billion in June.
Year-over-year, the average goods and services deficit increased $15.8 billion from the three months ending in June 2021.
• Average exports increased $46.6 billion from June 2021.
• Average imports increased $62.5 billion from June 2021.
Posted: August 4, 2022 Thursday 10:00 AM