U.S. International Trade in Goods and Services Deficit $79.6 Billion in June

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised.

Exports, Imports, and Balance

June exports were $260.8 billion, $4.3 billion more than May exports. June imports were $340.4 billion, $1.0 billion less than May imports.

The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $4.9 billion to $99.5 billion and an increase in the services surplus of $0.3 billion to $19.9 billion.

Year-to-date, the goods and services deficit increased $134.1 billion, or 33.4%, from the same period in 2021. Exports increased $246.2 billion or 20.0%. Imports increased $380.3 billion or 23.3%.

Three-Month Moving Averages

The average goods and services deficit decreased $9.3 billion to $83.7 billion for the three months ending in June.

  • Average exports increased $5.6 billion to $256.7 billion in June.
  • Average imports decreased $3.8 billion to $340.5 billion in June.

Year-over-year, the average goods and services deficit increased $15.8 billion from the three months ending in June 2021.

  • Average exports increased $46.6 billion from June 2021.
  • Average imports increased $62.5 billion from June 2021.

Exports

Exports of goods increased $3.5 billion to $183.0 billion in June.

Exports of goods on a Census basis increased $3.7 billion.

  • Industrial supplies and materials increased $4.7 billion.
    • Nonmonetary gold increased $1.8 billion.
    • Natural gas increased $1.6 billion.
  • Foods, feeds, and beverages increased $0.9 billion.
  • Capital goods decreased $1.1 billion.
    • Civilian aircraft decreased $0.8 billion.

Net balance of payments adjustments decreased $0.2 billion.

Exports of services increased $0.7 billion to $77.8 billion in June.

  • Travel increased $0.3 billion.
  • Transport increased $0.3 billion.

Imports

Imports of goods decreased $1.4 billion to $282.5 billion in June.

Imports of goods on a Census basis decreased $1.2 billion.

  • Automotive vehicles, parts, and engines decreased $2.7 billion.
    • Passenger cars decreased $1.3 billion.
    • Other automotive parts and accessories decreased $0.7 billion.
  • Capital goods increased $0.9 billion.
    • Computers increased $1.4 billion.
  • Industrial supplies and materials increased $0.6 billion.
    • Other petroleum products increased $1.0 billion.

Net balance of payments adjustments decreased $0.2 billion.

Imports of services increased $0.4 billion to $57.9 billion in June.

  • Transport increased $0.1 billion.
  • Travel increased $0.1 billion.
  • Other business services increased $0.1 billion.

Real Goods in 2012 Dollars – Census Basis

The real goods deficit decreased $3.1 billion to $113.2 billion in June.

  • Real exports of goods increased $2.1 billion to $155.2 billion.
  • Real imports of goods decreased $1.0 billion to $268.4 billion.

Revisions

Revisions to May exports

  • Exports of goods were revised up $0.5 billion.
  • Exports of services were revised up $0.1 billion.

Revisions to May imports

  • Imports of goods were revised down less than $0.1 billion.
  • Imports of services were revised up less than $0.1 billion.