July 07, 2022

U.S. International Trade in Goods and Services, May 2022

The U.S. monthly international trade deficit decreased in May 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $86.7 billion in April (revised) to $85.5 billion in May, as exports increased more than imports. The previously published April deficit was $87.1 billion. The goods deficit decreased $2.9 billion in May to $105.0 billion. The services surplus decreased $1.7 billion in May to $19.4 billion.

In addition, the trade in services statistics in BEA's annual International Services tables—BEA's most detailed trade in services statistics by service type and geographic area—are now available with statistics through 2021.

Principal Federal Economic Indicators

Gross Domestic Product
Q1 2022 (3rd)
-1.6%
Personal Income
May 2022
+0.5%
International Trade in Goods and Services
May 2022
-$85.5B
International Transactions
Q1 2022
-$291.4B

Noteworthy

The BEA Wire | BEA's Official Blog

May 2022 Trade Gap is $85.5 Billion

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The U.S. monthly international trade deficit decreased in May 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $86.7 billion in April (revised) to $85.5 billion in May, as exports increased more than imports. The previously published April deficit was $87.1 billion. The goods deficit decreased $2.9 billion in May to $105.0 billion. The services surplus decreased $1.7 billion in May…

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Real gross domestic product (GDP) decreased in 46 states and the District of Columbia in the first quarter of 2022, as real GDP for the nation decreased at an annual rate of 1.6 percent. The percent change in real GDP in the first quarter ranged from 1.2 percent in New Hampshire to –9.7 percent in Wyoming.

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Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, First Quarter 2022

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Real gross domestic product (GDP) decreased at an annual rate of 1.6 percent in the first quarter of 2022, following an increase of 6.9 percent in the fourth quarter of 2021. The decrease was revised down 0.1 percentage point from the “second” estimate released in May. In the first quarter, there was a resurgence of COVID-19 cases from the Omicron variant and decreases in government pandemic assistance payments. For more details, including…

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