US DEFICIT UP $41.9 BLN
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $41.9 billion in May, up $1.2 billion from $40.7 billion in April, revised. May exports were $188.6 billion, $1.5 billion less than April exports. May imports were $230.5 billion, $0.3 billion less than April imports.
The May increase in the goods and services deficit reflected a increase in the goods deficit of $1.2 billion to $61.5 billion and an increase in the services surplus of less than $0.1 billion to $19.6 billion.
Year-to-date, the goods and services deficit increased $1.1 billion, or 0.5 percent, from the same period in 2014. Exports decreased $26.5 billion or 2.7 percent. Imports decreased $25.4 billion or 2.2 percent.
Goods and Services Three-Month Moving Averages
The average goods and services deficit increased $1.5 billion to $44.4 billion for the three months ending in May.
- Average exports of goods and services increased $0.6 billion to $188.9 billion in May.
- Average imports of goods and services increased $2.2 billion to $233.3 billion in May.
Year-over-year, the average goods and services deficit increased $1.2 billion from the three months ending in May 2014.
- Average exports of goods and services decreased $6.8 billion from May 2014.
- Average imports of goods and services decreased $5.6 billion from May 2014.
Exports of goods decreased $1.6 billion to $127.7 billion in May.
Exports of goods on a Census basis decreased $1.4 billion.
Capital goods decreased $2.4 billion.
Civilian aircraft decreased $1.2 billion.
Industrial supplies and materials increased $0.8 billion.
Fuel Oil increased $0.5 billion.
Other petroleum products increased $0.5 billion.
Net balance of payments adjustments decreased $0.2 billion.
Exports of services increased $0.1 billion to $60.9 billion in May.
Other business services, which includes research and development services; professional and management services; and technical, trade-related, and other services, increased $0.1 billion.
Imports of goods decreased $0.4 billion to $189.2 billion in May.
Imports of goods on a Census basis decreased $0.4 billion.
Capital goods decreased $0.8 billion.
Drilling and oilfield equipment decreased $0.8 billion.
Industrial supplies and materials decreased $0.6 billion.
Crude oil decreased $0.4 billion.
Organic chemicals decreased $0.3 billion.
Net balance of payments adjustments increased less than $0.1 billion.
Imports of services increased $0.1 billion to $41.2 billion in May.
Transport, which includes freight and port services and passenger fares, increased $0.1 billion.
Real Goods in 2009 Dollars – Census Basis
The real goods deficit increased $1.4 billion to $58.4 billion in May.
Real exports of goods decreased $2.3 billion to $119.5 billion.
Real imports of goods decreased $0.9 billion to $177.8 billion.
Revisions to April exports
Exports of goods were revised upward $0.3 billion.
Exports of services were revised downward $0.2 billion.
Revisions to April imports
Imports of goods were revised upward less than $0.1 billion.
Imports of services were revised downward less than $0.1 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis
The May show surpluses, in billions of dollars, with South and Central America ($4.2), Brazil ($0.9), OPEC ($0.3), and Canada ($0.2). Deficits were recorded, in billions of dollars, with China ($30.6), European Union ($13.4), Germany ($6.4), Japan ($6.4), Mexico ($4.1), Italy $2.5), South Korea ($2.4), India ($2.0), France ($1.5), Saudi Arabia ($0.4), and United Kingdom ($0.1).
The deficit with China increased $3.1 billion to $30.6 billion in May. Exports decreased $0.7 billion to $9.6 billion and imports increased $2.4 billion to $40.2 billion.
The deficit with the European Union increased $1.4 billion to $13.4 billion in May.
Exports increased $1.0 billion to $22.6 billion and imports increased $0.4 billion to $36.0 billion.
|July, 12, 10:55:00|
|July, 12, 10:45:00|
|July, 12, 10:40:00|
|July, 12, 10:35:00|
|July, 12, 10:30:00|
|July, 12, 10:25:00|
BLOOMBERG - Treasury Secretary Steven Mnuchin told a Texas judge that Exxon Mobil Corp. doesn’t have a right to see privileged documents related to a $2 million fine assessed against the energy company for violating sanctions related to Russia’s 2014 invasion of Ukraine.
NPD - Preliminary production figures for June 2018 show an average daily production of 1 747 000 barrels of oil, NGL and condensate, which is an increase of 88 000 barrels per day compared to May.
NOVATEK - In the first half 2018, NOVATEK’s hydrocarbons production totaled 264.3 million barrels of oil equivalent (boe), including 32.93 billion cubic meters (bcm) of natural gas and 5,864 thousand tons of liquids (gas condensate and crude oil), resulting in an increase in total hydrocarbons production by 6.3 million boe, or by 2.4%, as compared to the first half 2017.
REUTERS - Brent crude futures LCOc1 were down 75 cents, or 1 percent, at $78.11 a barrel by 0308 GMT, having fallen as low as $77.60. U.S. crude CLc1 was down 55 cents, or 0.7 percent, at $73.56.