Trade Deficit Widened by $4.8B in May
Washington, DC, July 2, 2020-The goods and services deficit was $54.6 billion in May, up $4.8 billion from $49.8 billion in April, revised, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced.
May exports were $144.5 billion, $6.6 billion less than April exports. May imports were $199.1 billion, $1.8 billion less than April imports.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $4.2 billion to $76.1 billion and a decrease in the services surplus of $0.6 billion to $21.5 billion.
Year-to-date, the goods and services deficit decreased $22.3 billion, or 9.1%, from the same period in 2019. Exports decreased $148.3 billion or 14.0%. Imports decreased $170.6 billion or 13.1%.
Related Topics:U.S. Census Bureau