Research >> Economics
Goods and Services Deficit increased in June 2023
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $65.5 billion in June, down $2.8 billion from $68.3 billion in May, revised.
Exports, Imports, and Balance
June exports were $247.5 billion, $0.3 billion less than May exports. June imports were $313.0 billion, $3.1 billion less than May imports.The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.8 billion to $88.2 billion and a decrease in the services surplus of less than $0.1 billion to $22.7 billion.
Year-to-date, the goods and services deficit decreased $117.7 billion, or 22.3 percent, from the same period in 2022. Exports
increased $37.6 billion or 2.5 percent. Imports decreased $80.1 billion or 4.0 percent.
Three-Month Moving Averages
The average goods and services deficit increased $1.6 billion to $69.4 billion for the three months ending in June.
• Average exports decreased $3.6 billion to $248.2 billion in June.
• Average imports decreased $1.9 billion to $317.6 billion in June.
Year-over-year, the average goods and services deficit decreased $14.2 billion from the three months ending in June 2022.
• Average exports decreased $7.3 billion from June 2022.
• Average imports decreased $21.6 billion from June 2022.
Posted: August 8, 2023 Tuesday 08:30 AM