Research >> Economics
Goods and Services Deficit Increased in May 2019
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The nation's international trade deficit in goods and services increased to $55.5 billion in May from $51.2 billion in April (revised), as imports increased more than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $55.5 billion in May, up $4.3 billion from $51.2 billion in April, revised.
Exports, Imports, and Balance
May exports were $210.6 billion, $4.2 billion more than April exports. May imports were $266.2 billion, $8.5 billion more than April imports.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $4.4 billion to $76.1 billion and an increase in the services surplus of $0.1 billion to $20.6 billion.
Year-to-date, the goods and services deficit increased $15.7 billion, or 6.4 percent, from the same period in 2018. Exports increased $5.1 billion or 0.5 percent. Imports increased $20.8 billion or 1.6 percent.
Three-Month Moving Averages
The average goods and services deficit increased $1.8 billion to $52.9 billion for the three months ending in May.
• Average exports increased $0.3 billion to $209.5 billion in May.
• Average imports increased $2.2 billion to $262.4 billion in May.
Year-over-year, the average goods and services deficit increased $6.3 billion from the three months ending in May 2018.
• Average exports decreased $1.2 billion from May 2018.
Posted: July 3, 2019 Wednesday 08:30 AM