Research >> Economics
US Trade Deficit Decreases in June 2008
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