The monthly U.S. trade deficit in goods and services fell 5.7 percent from May to June as imports and exports both declined. However, individual deficits with Mexico, Vietnam, and South Korea hit records as imports from those countries grew to all-time highs.
Imports of $388.0 billion in June were down 1.8 percent from May. Imports of goods were down 2.5 percent to $309.0 billion, with decreases of $3.0 billion for computers, $1.9 billion for pharmaceuticals, and $1.1 billion for telecommunications equipment. Services imports edged up 0.8 percent to $79.0 billion.
Exports were down 0.9 percent to $314.7 billion in May. Exports of goods slipped 1.9 percent to $206.9 billion, with decreases of $5.7 billion for crude oil, $1.6 billion for fuel oil, and $1.1 billion for computers along with an increase of $3.4 billion for non-monetary gold. Services exports grew 1.0 percent to $107.8 billion.
The monthly U.S. trade deficit decreased from $77.6 billion in May to $73.3 billion in June. The deficit in goods trade was down 3.7 percent to $102.1 billion while the services trade surplus rose 1.8 percent to $28.8 billion.
Year-to-date, the trade deficit in June was down 33.8 percent from a year earlier as imports fell 0.4 percent and exports increased 11.7 percent.
For the month of June, trade deficits and surpluses with major trading partners were as follows.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
Vietnam
|
$21.6 billion
|
+4.9
|
|
|
|
Mexico
|
$20.3 billion
|
+1.0
|
|
|
|
China
|
$15.3 billion
|
+5.5
|
|
|
|
Taiwan
|
$14.9 billion
|
-23.2
|
|
|
|
European Union
|
$10.9 billion
|
+17.2
|
|
|
|
Canada
|
$7.2 billion
|
+2.9
|
|
|
|
South Korea
|
$7.4 billion
|
+68.2
|
|
|
|
Germany
|
$7.1 billion
|
+24.6
|
|
|
|
India
|
$4.5 billion
|
+9.8
|
|
|
|
Malaysia
|
$4.4 billion
|
-6.4
|
|
|
|
Japan
|
$3.3 billion
|
+65.0
|
|
|
|
Ireland
|
$2.7 billion
|
-32.5
|
|
|
|
Italy
|
$2.5 billion
|
-13.8
|
|
|
|
France
|
$1.5 billion
|
0
|
|
|
|
Israel
|
$1.2 billion
|
+200
|
|
|
|
Netherlands
|
|
|
$7.2 billion
|
-20.9
|
|
South/Central America
|
|
|
$5.6 billion
|
+16.7
|
|
Hong Kong
|
|
|
$3.2 billion
|
-42.9
|
|
Switzerland
|
|
|
$2.9 billion
|
Shift from $2.3 billion deficit
|
|
United Kingdom
|
|
|
$2.2 billion
|
+57.1
|
|
Singapore
|
|
|
$1.8 billion
|
+100
|
|
Saudi Arabia
|
|
|
$1.8 billion
|
+400
|
|
Brazil
|
|
|
$1.7 billion
|
+54.5
|
|
Australia
|
|
|
$1.3 billion
|
-31.6
|
|
Belgium
|
|
|
$0.9 billion
|
+28.6
|
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