Trade Deficit Widened by $0.6 Billion in May

Washington, DC, July 3, 2024-The goods and services deficit was $75.1 billion in May, up $0.6 billion from $74.5 billion in April, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.

May exports were $261.7 billion, $1.8 billion less than April exports. May imports were $336.7 billion, $1.2 billion less than April imports.

The May increase in the goods and services deficit reflected an increase in the goods deficit of $0.9 billion to $100.2 billion and an increase in the services surplus of $0.3 billion to $25.1 billion.

Year-to-date, the goods and services deficit increased $14.4 billion, or 4.2%, from the same period in 2023. Exports increased $42.8 billion or 3.4%. Imports increased $57.2 billion or 3.6%.