U.S. INTERNATIONAL TRADE DEFICIT $50.7 BLN
U.S. BEA - August 5, 2020 - U.S. International Trade in Goods and Services, June 2020
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.7 billion in June, down $4.1 billion from $54.8 billion in May, revised.
Deficit: | $50.7 Billion | -7.5%° |
Exports: | $158.3 Billion | +9.4%° |
Imports: | $208.9 Billion | +4.7%° |
Next release: September 3, 2020 (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, August 5, 2020 |
Year-to-date, the goods and services deficit decreased $23.1 billion, or 7.8 percent, from the same period in 2019. Exports decreased $199.1 billion or 15.7 percent. Imports decreased $222.3 billion or 14.2 percent.
Three-Month Moving Averages (exhibit 2)
The average goods and services deficit increased $2.8 billion to $51.8 billion for the three months ending in June.
- Average exports decreased $10.6 billion to $151.4 billion in June.
- Average imports decreased $7.9 billion to $203.1 billion in June.
Year-over-year, the average goods and services deficit increased $1.0 billion from the three months ending in June 2019.
- Average exports decreased $59.1 billion from June 2019.
- Average imports decreased $58.1 billion from June 2019.
Exports (exhibits 3, 6, and 7)
Exports of goods increased $13.0 billion to $102.9 billion in June.
Exports of goods on a Census basis increased $12.9 billion.
- Automotive vehicles, parts, and engines increased $4.9 billion.
- Automotive parts and accessories increased $1.8 billion.
- Passenger cars increased $1.7 billion.
- Capital goods increased $3.8 billion.
- Civilian aircraft increased $0.6 billion.
- Other industrial machinery increased $0.6 billion
- Telecommunications equipment increased $0.5 billion.
- Electric apparatus increased $0.5 billion.
- Industrial supplies and materials increased $2.8 billion.
- Fuel oil increased $0.8 billion.
- Other petroleum products increased $0.5 billion.
- Crude oil increased $0.4 billion.
Net balance of payments adjustments increased $0.1 billion.
Exports of services increased $0.6 billion to $55.4 billion in June.
- Transport increased $0.4 billion.
- Other business services increased $0.1 billion.
Imports (exhibits 4, 6, and 8)
Imports of goods increased $9.0 billion to $175.0 billion in June.
Imports of goods on a Census basis increased $8.5 billion.
- Automotive vehicles, parts, and engines increased $9.7 billion.
- Passenger cars increased $4.1 billion.
- Automotive parts and accessories increased $2.7 billion.
- Trucks, buses, and special purpose vehicles increased $2.1 billion.
- Consumer goods increased $4.7 billion.
- Cell phones and other household goods increased $1.1 billion.
- Gem diamonds increased $0.7 billion.
- Cotton apparel and household goods increased $0.5 billion.
- Artwork and other collectibles increased $0.5 billion.
- Capital goods increased $2.2 billion.
- Computers increased $0.8 billion.
- Telecommunications equipment increased $0.4 billion.
- Electric apparatus increased $0.4 billion.
- Industrial supplies and materials decreased $8.3 billion.
- Nonmonetary gold decreased $5.9 billion.
- Finished metal shapes decreased $2.9 billion.
Net balance of payments adjustments increased $0.5 billion.
Imports of services increased $0.5 billion to $33.9 billion in June.
- Transport increased $0.3 billion.
- Other business services increased $0.1 billion.
- Charges for the use of intellectual property increased $0.1 billion.
Real Goods in 2012 Dollars – Census Basis (exhibit 11)
The real goods deficit decreased $5.2 billion to $81.0 billion in June.
- Real exports of goods increased $13.1 billion to $120.0 billion.
- Real imports of goods increased $7.8 billion to $201.0 billion.
Revisions
Revisions to May exports
- Exports of goods were revised down $0.1 billion.
- Exports of services were revised up $0.3 billion.
Revisions to May imports
- Imports of goods were revised up less than $0.1 billion.
- Imports of services were revised up $0.4 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)
The June figures show surpluses, in billions of dollars, with South and Central America ($1.8), United Kingdom ($1.3), Hong Kong ($1.0), OPEC ($0.5), and Brazil ($0.4). Deficits were recorded, in billions of dollars, with China ($26.7), European Union ($13.1), Mexico ($9.0), Germany ($3.8), Taiwan ($2.4), Italy ($2.1), South Korea ($1.9), Japan ($1.8), India ($1.7), France ($1.0), Saudi Arabia ($0.7), Singapore ($0.2), and Canada ($0.1).
- The deficit with Japan decreased $1.4 billion to $1.8 billion in June. Exports increased $0.2 billion to $4.9 billion and imports decreased $1.3 billion to $6.6 billion.
- The deficit with Singapore decreased $1.4 billion to $0.2 billion in June. Exports increased $0.3 billion to $2.1 billion and imports decreased $1.1 billion to $2.2 billion.
- The deficit with Mexico increased $4.8 billion to $9.0 billion in June. Exports increased $4.8 billion to $15.5 billion and imports increased $9.6 billion to $24.5 billion.
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