Business & Investment

May trade deficit increased to $ 71.2 billion

Along Calculated risk of July 2, 2021 01:59: 00 PM

From the Department of Commerce report:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis today announced that the deficit in goods and services in May was $ 71.2 billion, an increase of $ 2.2 billion from $ 69.1 billion in April.

May exports amounted to $ 206 billion, which is $ 1.3 billion higher than April exports. May imports were $ 277.3 billion, $ 3.5 billion more than April imports.
Emphasis added

Click the graph to see the enlarged image.

May imports and exports increased.

Exports have increased by 41% compared to May 2020. Imports have increased by 38% compared to May 2020.

With COVID-19, both imports and exports have plummeted and are now recovering (more imports than exports).

The second graph shows the US trade deficit with and without oil.

US trade deficit The blue line is the total deficit, the black line is the oil deficit, and the red line is the former petroleum product with the trade deficit.

Note that net imports and exports of petroleum products are close to zero.

The trade deficit with China decreased from $ 26.9 billion in May 2020 to $ 26.3 billion in May.

May trade deficit increased to $ 71.2 billion May trade deficit increased to $ 71.2 billion

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