U.S. INTERNATIONAL TRADE DEFICIT UP TO $75.7 BLN

U.S. BEA - August 5, 2021- The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $75.7 billion in June, up $4.8 billion from $71.0 billion in May, revised. 

Exports, Imports, and Balance (exhibit 1) 

June exports were $207.7 billion, $1.2 billion more than May exports. June imports were $283.4 billion, $6.0 billion more than May imports. 

The June increase in the goods and services deficit reflected an increase in the goods deficit of $4.0 billion to $93.2 billion and a decrease in the services surplus of $0.7 billion to $17.4 billion. 

Year-to-date, the goods and services deficit increased $135.8 billion, or 46.4 percent, from the same period in 2020. Exports increased $150.9 billion or 14.3 percent. Imports increased $286.7 billion or 21.3 percent.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit increased $0.2 billion to $71.9 billion for the three months ending in June.

• Average exports increased $1.7 billion to $206.3 billion in June.
• Average imports increased $1.9 billion to $278.2 billion in June.

Year-over-year, the average goods and services deficit increased $19.1 billion from the three months ending in June 2020.

• Average exports increased $54.6 billion from June 2020.
• Average imports increased $73.7 billion from June 2020.

Exports (exhibits 3, 6, and 7)

Exports of goods increased $0.3 billion to $145.9 billion in June.

Exports of goods on a Census basis increased $0.2 billion.

• Industrial supplies and materials increased $1.2 billion.
• Crude oil increased $1.6 billion.
• Foods, feeds, and beverages decreased $1.2 billion.
• Soybeans decreased $0.5 billion.

Net balance of payments adjustments increased less than $0.1 billion.

Exports of services increased $0.9 billion to $61.8 billion in June.

• Travel increased $0.4 billion.
• Transport increased $0.2 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods increased $4.3 billion to $239.1 billion in June.

Imports of goods on a Census basis increased $4.2 billion.

• Industrial supplies and materials increased $4.6 billion.
• Nonmonetary gold increased $1.2 billion.
• Finished metal shapes increased $0.5 billion.
• Iron and steel mill products increased $0.4 billion.
• Organic chemicals increased $0.4 billion.
• Capital goods increased $0.8 billion.
• Consumer goods decreased $1.6 billion.
• Pharmaceutical preparations decreased $0.8 billion.
• Cotton apparel and household goods decreased $0.7 billion.
• Automotive vehicles, parts, and engines decreased $0.7 billion.

Net balance of payments adjustments increased $0.1 billion.

Imports of services increased $1.6 billion to $44.3 billion in June.

• Transport increased $1.0 billion.
• Travel increased $0.6 billion.

Real Goods in 2012 Dollars – Census Basis (exhibit 11)

The real goods deficit increased $3.6 billion to $105.2 billion in June.

• Real exports of goods decreased $1.1 billion to $144.0 billion.
• Real imports of goods increased $2.5 billion to $249.2 billion.

Revisions

Revisions to May exports

• Exports of goods were revised up $0.1 billion.
• Exports of services were revised up $0.3 billion.

Revisions to May imports

• Imports of goods were revised up $0.1 billion.
• Imports of services were revised up $0.1 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 ($4.5), Hong Kong ($1.7), Brazil ($1.5), and Singapore ($0.6). Deficits were recorded, in billions of dollars, with China ($27.0), European Union ($19.6), Mexico ($7.2), Germany ($6.3), Canada ($5.5), Japan ($4.9), Italy ($3.7), India ($3.5), Taiwan ($3.3), South Korea ($2.8), France ($1.9), Saudi Arabia ($0.3), and United Kingdom (less than $0.1).

• The deficit with the European Union increased $1.1 billion to $19.6 billion in June. Exports increased $0.6 billion to $22.6 billion and imports increased $1.7 billion to $42.2 billion.
• The deficit with India increased $1.0 billion to $3.5 billion in June. Exports decreased $0.3 billion to $2.9 billion and imports increased $0.7 billion to $6.5 billion.
• The deficit with Japan decreased $0.9 billion to $4.9 billion in June. Exports increased less than $0.1 billion to $6.4 billion and imports decreased $0.9 billion to $11.4 billion. 

Full PDF version

-----