The monthly U.S. trade deficit in goods and services fell for the third straight month in June to a six-month low as exports increased but imports slipped.
According to statistics from the Department of Commerce, imports were down 0.3 percent from May to June, to $340.4 billion. Imports of goods were down 0.5 percent to $282.5 billion, with decreases of $1.3 billion for passenger cars and $700 million for auto parts but increases of $1.4 billion for computers and $1.0 billion for other petroleum products. Imports of services rose 0.7 percent to $57.9 billion. For the year-to-date, total imports were up 23.3 percent from June 2021.
Exports saw a 1.7 percent increase to a record-high $260.8 billion. Exports of goods were up 1.9 percent, including increases of $1.8 billion for non-monetary gold, $1.6 billion for natural gas, and $900 million for foods, feeds, and beverages along with a decrease of $800 million for civilian aircraft. Services exports edged up 0.9 percent to $77.8 billion. For the year-to-date, total exports were up 20.0 percent from a year earlier.
With exports up but imports down, the monthly U.S. trade deficit fell 6.2 percent in June to $79.6 billion. The deficit in goods trade declined 4.7 percent to $99.5 billion while the services trade surplus was up 1.5 percent to $19.9 billion. For the year-to-date, the overall trade deficit was up 33.4 percent from June 2021.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$36.9 billion
|
+14.6
|
|
|
|
European Union
|
$17.6 billion
|
+2.9
|
|
|
|
Vietnam
|
$11.1 billion
|
0
|
|
|
|
Mexico
|
$9.7 billion
|
-2.0
|
|
|
|
Canada
|
$7.3 billion
|
-25.5
|
|
|
|
Ireland
|
$6.1 billion
|
+1.7
|
|
|
|
Germany
|
$5.4 billion
|
-11.5
|
|
|
|
India
|
$5.2 billion
|
+40.5
|
|
|
|
Japan
|
$4.7 billion
|
-20.3
|
|
|
|
South Korea
|
$3.7 billion
|
-9.8
|
|
|
|
Taiwan
|
$3.6 billion
|
-7.7
|
|
|
|
Italy
|
$3.5 billion
|
-7.9
|
|
|
|
Malaysia
|
$3.0 billion
|
+3.4
|
|
|
|
Saudi Arabia
|
$1.9 billion
|
+35.7
|
|
|
|
France
|
$0.9 billion
|
+50.0
|
|
|
|
Israel
|
$0.8 billion
|
+100.0
|
|
|
|
United Kingdom
|
$0.4 billion
|
Change from $1.6 bn surplus
|
|
|
|
South/Central America
|
|
|
$7.9 billion
|
+11.3
|
|
Netherlands
|
|
|
$3.0 billion
|
+20.0
|
|
Singapore
|
|
|
$1.8 billion
|
+28.6
|
|
Hong Kong
|
|
|
$1.7 billion
|
-15.0
|
|
Brazil
|
|
|
$1.7 billion
|
+13.3
|
|
Australia
|
|
|
$1.5 billion
|
+50.0
|
|
Belgium
|
|
|
$1.0 billion
|
-9.1
|
|
Switzerland
|
|
|
$0.9 billion
|
Change from $1.9 bn deficit
|
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