Research >> Economics
Goods and Services Deficit Increased in May 2021
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The nation's international trade deficit in goods and services increased to $71.2 billion in May from $69.1 billion in April (revised), as imports increased than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.2 billion in May, up $2.2 billion from $69.1 billion in April, revised.
Exports, Imports, and Balance
May exports were $206.0 billion, $1.3 billion more than April exports. May imports were $277.3 billion, $3.5 billion more than April imports. The May increase in the goods and services deficit reflected an increase in the goods deficit of $2.3 billion to $89.2 billion and an increase in the services surplus of $0.1 billion to $17.9 billion. Year-to-date, the goods and services deficit increased $110.9 billion, or 45.8 percent, from the same period in 2020. Exports increased $101.6 billion or 11.4 percent. Imports increased $212.5 billion or 18.7 percent.
Three-Month Moving Averages
The average goods and services deficit increased $0.2 billion to $71.8 billion for the three months ending in May.
• Average exports increased $5.8 billion to $204.5 billion in May.
• Average imports increased $6.0 billion to $276.2 billion in May.
Year-over-year, the average goods and services deficit increased $20.1 billion from the three months ending in May 2020.
• Average exports increased $43.2 billion from May 2020.
• Average imports increased $63.3 billion from May 2020.
Posted: July 2, 2021 Friday 08:30 AM