Research >> Economics
Goods and Services Deficit Decreased in May 2012
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The Nation’s international trade deficit in goods and services decreased to $48.7 billion in May from $50.6 billion in April (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 May exports of $183.1 billion and imports of $231.8 billion resulted in a goods and services deficit of $48.7 billion, down from $50.6 billion in April, revised. May exports were $0.4 billion more than April exports of $182.7 billion. May imports were $1.6 billion less than April imports of $233.3 billion.
In May, the goods deficit decreased $1.6 billion from April to $63.5 billion, and the services surplus increased $0.3 billion from April to $14.8 billion. Exports of goods were virtually unchanged at $130.7 billion, and imports of goods decreased $1.6 billion to $194.3 billion. Exports of services increased $0.3 billion to $52.4 billion, and imports of services increased $0.1 billion to $37.5 billion.
The goods and services deficit increased $1.0 billion from May 2011 to May 2012. Exports were up $7.4 billion, or 4.2 percent, and imports were up $8.4 billion, or 3.8 percent.
Posted: July 11, 2012 Wednesday 08:30 AM