Research >> Economics
Goods and Services Deficit Increased in June 2011
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The Nation’s international trade deficit in goods and services increased to $53.1 billion in June from $50.8 billion (revised) in May, as exports decreased more than imports.
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 $170.9 billion and imports of $223.9 billion resulted in a goods and services deficit of $53.1 billion, up from $50.8 billion in May, revised. June exports were $4.1 billion less than May exports of $175.0 billion. June imports were $1.9 billion less than May imports of $225.8 billion.
In June, the goods deficit increased $2.1 billion from May to $67.6 billion, and the services surplus decreased $0.1 billion to $14.5 billion. Exports of goods decreased $4.1 billion to $121.2 billion, and imports of goods decreased $1.9 billion to $188.8 billion. Exports of services remained virtually unchanged at $49.6 billion, and imports of services remained virtually unchanged at $35.1 billion.
The goods and services deficit increased $6.2 billion from June 2010 to June 2011. Exports were up $19.5 billion, or 12.9 percent, and imports were up $25.7 billion, or 13.0 percent.
Posted: August 11, 2011 Thursday 08:30 AM