The 2020 Mid-Year Economic Update_long

May U.S. Exports Increase, Imports Decrease

Goods and services deficit up year over year.

The U.S. goods and services deficit was $46.5 billion in May, down $1.1 billion from revised April figure, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce. May exports were $192 billion, $0.9 billion more than April exports. May imports were $238.5 billion, $0.2 billion less than April imports.

Year-over-year, the average goods and services deficit increased $7.4 billion from the three months ending in May 2016. Average exports of goods and services increased $10.2 billion and average imports of goods and services increased $17.6 billion.

Year-to-date, the goods and services deficit increased $27 billion, or 13.1 percent. Exports increased 6 percent. Imports increased 7.3 percent.

Imports of goods decreased $0.6 billion to $194.7 billion in May and imports of services increased $0.4 billion to $43.8 billion.

Exports of goods increased $0.2 billion to $127.2 billion in May and exports of services increased $0.6 billion to $64.8 billion.

 

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