RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2020-07-03 11:25:00

U.S. INTERNATIONAL TRADE DEFICIT UP $4.8 BLN

U.S. INTERNATIONAL TRADE DEFICIT UP $4.8 BLN

U.S. BEAJuly 2, 2020 - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $54.6 billion in May, up $4.8 billion from $49.8 billion in April, revised. 

U.S. International Trade in Goods and Services Deficit
Deficit: $54.6 Billion +9.7%°
Exports: $144.5 Billion -4.4%°
Imports: $199.1 Billion -0.9%°

Next release: August 5, 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, July 2, 2020

 

Exports, Imports, and Balance (exhibit 1) 

May exports were $144.5 billion, $6.6 billion less than April exports. May imports were $199.1 billion, $1.8 billion less than April imports. 

The May increase in the goods and services deficit reflected an increase in the goods deficit of $4.2 billion to $76.1 billion and a decrease in the services surplus of $0.6 billion to $21.5 billion. 

Year-to-date, the goods and services deficit decreased $22.3 billion, or 9.1 percent, from the same period in 2019. Exports decreased $148.3 billion or 14.0 percent. Imports decreased $170.6 billion or 13.1 percent. 

Three-Month Moving Averages (exhibit 2) 

The average goods and services deficit increased $6.6 billion to $48.9 billion for the three months ending in May. 

  • Average exports decreased $22.4 billion to $161.9 billion in May.
  • Average imports decreased $15.8 billion to $210.8 billion in May. 

Year-over-year, the average goods and services deficit decreased $0.9 billion from the three months ending in May 2019. 

  • Average exports decreased $49.8 billion from May 2019.
  • Average imports decreased $50.7 billion from May 2019. 

Exports (exhibits 3, 6, and 7) 

Exports of goods decreased $5.5 billion to $90.0 billion in May. 

  Exports of goods on a Census basis decreased $5.6 billion. 

  • Industrial supplies and materials decreased $3.9 billion.
    • Other petroleum products decreased $1.6 billion.
    • Crude oil decreased $0.7 billion.
    • Fuel oil decreased $0.6 billion.
  • Capital goods decreased $0.9 billion.
    • Semiconductors decreased $0.4 billion.
    • Computer accessories decreased $0.3 billion. 

  Net balance of payments adjustments increased $0.1 billion. 

Exports of services decreased $1.1 billion to $54.5 billion in May. 

  • Other business services decreased $0.6 billion.
  • Financial services decreased $0.2 billion.
  • Charges for the use of intellectual property decreased $0.2 billion. 

Imports (exhibits 4, 6, and 8) 

Imports of goods decreased $1.3 billion to $166.0 billion in May. 

  Imports of goods on a Census basis decreased $1.0 billion. 

  • Automotive vehicles, parts, and engines decreased $4.4 billion.
    • Passenger cars decreased $3.0 billion.
    • Automotive parts and accessories decreased $0.6 billion.
    • Trucks, buses, and special purpose vehicles decreased $0.4 billion.
  • Capital goods decreased $0.6 billion.
    • Computers decreased $0.4 billion.
  • Industrial supplies and materials increased $2.3 billion.
    • Nonmonetary gold increased $1.2 billion.
    • Finished metal shapes increased $1.2 billion.
  • Consumer goods increased $1.9 billion.
    • Other textile apparel and household goods increased $1.8 billion.
    • Cell phones and other household goods increased $1.2 billion. 

  Net balance of payments adjustments decreased $0.3 billion. 

Imports of services decreased $0.5 billion to $33.1 billion in May. 

  • Charges for the use of intellectual property decreased $0.2 billion.
  • Other business services decreased $0.1 billion.
  • Travel decreased $0.1 billion.
  • Financial services decreased $0.1 billion. 

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

The real goods deficit increased $6.0 billion to $86.5 billion in May. 

  • Real exports of goods decreased $6.7 billion to $106.8 billion.
  • Real imports of goods decreased $0.7 billion to $193.3 billion. 

Revisions 

Revisions to April exports 

  • Exports of goods were revised down less than $0.1 billion.
  • Exports of services were revised down $0.1 billion. 

Revisions to April imports 

  • Imports of goods were revised down less than $0.1 billion.
  • Imports of services were revised up $0.2 billion. 

Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19) 

The May figures show surpluses, in billions of dollars, with South and Central America ($1.9), Brazil ($0.4), OPEC ($0.4), United Kingdom ($0.2), and Hong Kong ($0.1). Deficits were recorded, in billions of dollars, with China ($27.9), European Union ($12.7), Mexico ($4.2), Germany ($3.9), Japan ($3.2), Taiwan ($2.6), South Korea ($1.9), Singapore ($1.6), Italy ($1.4), Canada ($1.2), France ($1.1), India ($0.7), and Saudi Arabia ($0.1). 

  • The deficit with China increased $1.9 billion to $27.9 billion in May. Exports increased $0.7 billion to $10.0 billion and imports increased $2.7 billion to $37.9 billion.
  • The surplus with members of OPEC decreased $1.0 billion to $0.4 billion in May. Exports decreased $0.5 billion to $2.4 billion and imports increased $0.5 billion to $2.1 billion.
  • The deficit with the European Union decreased $1.6 billion to $12.7 billion in May. Exports decreased $1.0 billion to $14.9 billion and imports decreased $2.6 billion to $27.6 billion. 

 

Full PDF version

-----

Tags: USA, ECONOMY, FINANCE, TRADE
Chronicle:
U.S. INTERNATIONAL TRADE DEFICIT UP $4.8 BLN
2021, July, 9, 12:04:00
HYDROGEN RUSSIA AND CIS, Moscow, 20-21 October 2021
International Conference and Exhibition ‘Hydrogen Russia and CIS’ brings together more than 200 senior executives of hydrogen production plants from Russia and the CIS
U.S. INTERNATIONAL TRADE DEFICIT UP $4.8 BLN
2021, July, 9, 12:00:00
ARGENTINA'S NUCLEAR SMR
Before work was suspended, it was in line to be the world’s first operating SMR. The government licensed it as a prototype in 2009.
U.S. INTERNATIONAL TRADE DEFICIT UP $4.8 BLN
2021, July, 9, 11:55:00
CHILE'S COAL GENERATION DOWN
In June 2021, the Chamber of Deputies of Chile has approved a bill that prohibits the installation and operation of coal-fired power plants.
U.S. INTERNATIONAL TRADE DEFICIT UP $4.8 BLN
2021, July, 8, 12:50:00
OIL PRICE: NEAR $73
Brent slipped by 23 cents, or 0.3%, to $73.20 a barrel, WTI were down 33 cents, or 0.5%, at $71.87 a barrel.
U.S. INTERNATIONAL TRADE DEFICIT UP $4.8 BLN
2021, July, 8, 12:45:00
OIL PRICES 2021-22: $72-$67
We expect rising production will reduce the persistent global oil inventory draws that have occurred for much of the past year and keep prices similar to current levels, averaging $72/b during the second half of 2021 (2H21).
U.S. INTERNATIONAL TRADE DEFICIT UP $4.8 BLN
2021, July, 8, 12:40:00
EUROPE CLIMATE RULES
According to draft proposals seen by market sources, the CBAM will replace the current system of free carbon allowances for metals sectors, and tighten allowances in the European Emissions Trading System generally, a bone of contention for some.
U.S. INTERNATIONAL TRADE DEFICIT UP $4.8 BLN
2021, July, 8, 12:35:00
ASIA INDEXES DOWN ANEW
The Hang Seng index (.HSI) led losses with a 1.9% drop, its eighth consecutive session in the red, with more falls in internet giants Tencent (0700.HK), Meituan (3690.HK) and Alibaba (9988.HK) as the sector reels from sweeping Chinese regulatory scrutinty.
All Publications »