The monthly U.S. trade deficit in goods and services dropped 4.1 percent in June, the second straight monthly decline, as imports and exports both fell. For the year to date the total U.S. trade deficit is down 22.3 percent for the same period in 2022, with exports up 2.5 percent and imports down 4.0 percent.
Imports dropped 1.0 percent, to $313.0 billion, from May to June. Imports of goods were down 1.1 percent to $253.3 billion, with decreases of $2.1 billion for finished metal shapes, $1.6 billion for computers, and $1.0 billion each for crude oil and artwork and other collectibles, along with increases of $2.4 billion for pharmaceutical preparations and $1.7 billion for passenger cars. Services imports slid 0.3 percent to $59.7 billion.
Exports edged down 0.1 percent in June to $247.5 billion. Exports of goods were down 0.1 percent to $165.1 billion, with decreases of $800 million for civilian aircraft, $600 million for pharmaceutical preparations, and $500 million for crude oil, along with increases of $500 million each for non-monetary gold and other industrial machinery. Services exports slipped 0.2 percent to $82.3 billion.
With exports and imports both down, the monthly U.S. trade deficit decreased from $68.3 billion in May to $65.5 billion in June. The deficit in goods trade was down 3.1 percent to $88.2 billion while the services trade surplus gained 0.4 percent to $22.7 billion.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$22.8 billion
|
-8.4
|
|
|
|
European Union
|
$18.2 billion
|
+10.3
|
|
|
|
Mexico
|
$12.9 billion
|
-4.4
|
|
|
|
Vietnam
|
$8.6 billion
|
+6.2
|
|
|
|
Germany
|
$6.7 billion
|
-2.9
|
|
|
|
Ireland
|
$6.7 billion
|
+24.1
|
|
|
|
Japan
|
$6.1 billion
|
+22.0
|
|
|
|
South Korea
|
$5.4 billion
|
+42.1
|
|
|
|
Italy
|
$4.0 billion
|
+2.6
|
|
|
|
India
|
$3.8 billion
|
+18.9
|
|
|
|
Canada
|
$3.3 billion
|
-37.7
|
|
|
|
Taiwan
|
$3.3 billion
|
-13.2
|
|
|
|
Malaysia
|
$2.3 billion
|
+4.5
|
|
|
|
Switzerland
|
$1.5 billion
|
-42.3
|
|
|
|
France
|
$1.3 billion
|
-31.6
|
|
|
|
United Kingdom
|
$0.8 billion
|
Shift from $1.2 billion surplus
|
|
|
|
Israel
|
$0.4 billion
|
-55.6
|
|
|
|
Netherlands
|
|
|
$4.6 billion
|
+17.9
|
|
South/Central America
|
|
|
$4.3 billion
|
+2.4
|
|
Hong Kong
|
|
|
$2.6 billion
|
+62.5
|
|
Belgium
|
|
|
$1.6 billion
|
-5.9
|
|
Australia
|
|
|
$1.4 billion
|
+16.7
|
|
Brazil
|
|
|
$0.5 billion
|
-50.0
|
|
Singapore
|
|
|
$0.2 billion
|
-33.3
|
|
Saudi Arabia
|
|
|
$0.1 billion
|
0
|
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