The U.S. trade deficit in goods and services fell another 6.5 percent in May to $43.1 billion, its third straight monthly decline, according to trade statistics released by the Department of Commerce. Exports jumped 1.9 percent to a record $215.3 billion while imports rose 0.4 percent to $258.4 billion.
For the year to date, the total deficit is up 7.9 percent from 2017. Exports have risen 8.8 percent over the same period as a year earlier while imports have increased 8.6 percent.
The deficit in goods trade dropped 3.8 percent to $65.8 billion in May. Imports of goods were up 0.5 percent to $210.7 billion, including increases of $600 million in telecommunications equipment, $400 million in computers, and $300 million in civilian aircraft parts along with a $600 million decrease in pharmaceutical preparations. Exports of goods grew 2.6 percent to $144.9 billion, including increases of $2.0 billion in soybeans and $1.9 billion in civilian aircraft along with a $900 million decrease in other petroleum products.
The services surplus moved ahead 2.3 percent to $22.7 billion as imports slipped 0.2 percent to $47.7 billion and exports gained 0.6 percent to $70.4 billion.
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
China
|
$32.0 billion
|
+3.9
|
|
|
European Union
|
$11.9 billion
|
-10.9
|
|
|
Japan
|
$6.0 billion
|
+1.7
|
|
|
Mexico
|
$5.8 billion
|
-3.3
|
|
|
Germany
|
$5.7 billion
|
+1.8
|
|
|
Italy
|
$2.6 billion
|
+8.3
|
|
|
India
|
$2.6 billion
|
+30.0
|
|
|
Canada
|
$2.2 billion
|
+29.4
|
|
|
South Korea
|
$1.4 billion
|
+7.7
|
|
|
Taiwan
|
$1.4 billion
|
+27.3
|
|
|
France
|
$1.2 billion
|
-25.0
|
|
|
South/Central America
|
|
|
$3.6 billion
|
-12.2
|
Hong Kong
|
|
|
$2.8 billion
|
+27.3
|
Singapore
|
|
|
$0.9 billion
|
+28.6
|
Brazil
|
|
|
$0.8 billion
|
+33.3
|
United Kingdom
|
|
|
$0.6 billion
|
-33.3
|
Saudi Arabia
|
|
|
Less than $0.1 billion
|
Change from $0.9 billion deficit
|
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