Research >> Economics
Goods and Services Deficit Increased in May 2010
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The Nation’s international trade deficit in goods and services increased to $42.3 billion in May from $40.3 billion (revised) in April, as imports increased more than exports.
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 $152.3 billion and imports of $194.5 billion resulted in a goods and services deficit of $42.3 billion, up from $40.3 billion in April, revised. May exports were $3.5 billion more than April exports of $148.7 billion. April imports were $5.5 billion more than April imports of $189.0 billion.
In May, the goods deficit increased $1.9 billion from April to $54.5 billion, and the services surplus was virtually unchanged at $12.2 billion. Exports of goods increased $3.0 billion to $107.2 billion, and imports of goods increased $4.9 billion to $161.7 billion. Exports of services increased $0.6 billion to $45.0 billion, and imports of services increased $0.6 billion to $32.9 billion.
The goods and services deficit increased $17.4 billion from May 2009 to May 2010. Exports were up $26.4 billion, or 21.0 percent, and imports were up $43.8 billion, or 29.1 percent.
Posted: July 13, 2010 Tuesday 08:30 AM