The U.S. trade deficit in goods and services hit an all-time high in June, rising 6.8 percent from a month earlier to $75.7 billion. According to trade statistics from the Department of Commerce, imports rose 2.2 percent to $283.4 billion while exports edged up 0.6 percent to $207.7 billion, the second straight month that figure has hit a new record.
The year-to-date deficit was up 46.4 percent from June 2020 (when trade volumes were significantly lower in the early stages of the COVID-19 pandemic) as exports increased 14.3 percent and imports jumped 21.3 percent.
The deficit in goods trade increased 4.5 percent in June to $93.2 billion, the largest on record, as both imports and exports hit record highs. Imports of goods rose 1.8 percent to $239.1 billion, including increases of $1.2 billion in non-monetary gold, $800 million in capital goods, and $500 million in finished metal shapes along with decreases of $800 million in pharmaceutical preparations and $700 million in cotton apparel and household goods. Exports of goods gained 0.2 percent to $145.9 billion, including an increase of $1.6 billion in crude oil along with a $500 million decrease in soybeans.
The services surplus fell 3.9 percent to $17.4 billion, with imports up 3.7 percent to $44.3 billion and exports up 1.5 percent to $61.8 billion.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$27.0 billion
|
-0.7
|
|
|
|
European Union
|
$19.6 billion
|
+5.9
|
|
|
|
Mexico
|
$7.2 billion
|
-6.5
|
|
|
|
Germany
|
$6.3 billion
|
+1.6
|
|
|
|
Canada
|
$5.5 billion
|
+14.6
|
|
|
|
Japan
|
$4.9 billion
|
-16.9
|
|
|
|
Italy
|
$3.7 billion
|
+15.6
|
|
|
|
India
|
$3.5 billion
|
+40.0
|
|
|
|
Taiwan
|
$3.3 billion
|
0
|
|
|
|
South Korea
|
$2.8 billion
|
+21.7
|
|
|
|
France
|
$1.9 billion
|
+26.7
|
|
|
|
Saudi Arabia
|
$0.3 billion
|
0
|
|
|
|
United Kingdom
|
<$0.1 billion
|
Shift from $1 billion surplus
|
|
|
|
South/Central America
|
|
|
$4.5 billion
|
+12.5
|
|
Hong Kong
|
|
|
$1.7 billion
|
-37.0
|
|
Brazil
|
|
|
$1.5 billion
|
+25.0
|
|
Singapore
|
|
|
$0.6 billion
|
+500
|
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