Research >> Economics
US Trade Deficit Decreases in June 2008
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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 $164.4 billion and imports of $221.2 billion resulted in a goods and services deficit of $56.8 billion, down from $59.2 billion in May, revised. June exports were $6.4 billion more than May exports of $158.0 billion. June imports were $3.9 billion more than May imports of $217.2 billion.
In June, the goods deficit decreased $2.1 billion from May to $70.0 billion, and the services surplus increased $0.4 billion to $13.3 billion. Exports of goods increased $5.7 billion to $116.7 billion, and imports of goods increased $3.6 billion to $186.7 billion. Exports of services increased $0.7 billion to $47.7 billion, and imports of services increased $0.3 billion to $34.5 billion.
In June, the goods and services deficit decreased $2.4 billion from June 2007. Exports were up $28.7 billion, or 21.1 percent, and imports were up $26.3 billion, or 13.5 percent.
Posted: August 12, 2008 Tuesday 09:00 AM