Trade Deficit Increased to $71.2 Billion in May
by Calculated Risk on 7/02/2021 01:59:00 PM
From the Department of Commerce reported:
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.
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.
Exports and imports increased in May.
Exports are up 41% compared to May 2020; imports are up 38% compared to May 2020.
The second graph shows the U.S. trade deficit, with and without petroleum.
Note that net, imports and exports of petroleum products are close to zero.
The trade deficit with China decreased to $26.3 billion in May, from $26.9 billion in May 2020.