U.S. International Trade in Goods and Services, June 2019
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $55.2 billion in June, down $0.2 billion from $55.3 billion in May, revised.
Next release: September 4, 2019
(°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes
Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, August 2, 2019
Exports, Imports, and Balance (exhibit 1)
June exports were $206.3 billion, $4.4 billion less than May exports. June imports were $261.5 billion, $4.6 billion less than May imports.
The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $0.8 billion to $75.1 billion and a decrease in the services surplus of $0.6 billion to $20.0 billion.
Year-to-date, the goods and services deficit increased $23.2 billion, or 7.9 percent, from the same period in 2018. Exports increased $0.5 billion or less than 0.1 percent. Imports increased $23.8 billion or 1.5 percent.
Three-Month Moving Averages (exhibit 2)
The average goods and services deficit increased $1.1 billion to $53.9 billion for the three months ending in June.
- Average exports decreased $1.7 billion to $207.8 billion in June.
- Average imports decreased $0.6 billion to $261.7 billion in June.
Year-over-year, the average goods and services deficit increased $7.2 billion from the three months ending in June 2018.
- Average exports decreased $3.3 billion from June 2018.
- Average imports increased $4.0 billion from June 2018.
Exports (exhibits 3, 6, and 7)
Exports of goods decreased $3.9 billion to $137.1 billion in June.
Exports of goods on a Census basis decreased $3.8 billion.
- Consumer goods decreased $1.9 billion.
- Gem diamonds decreased $0.8 billion.
- Pharmaceutical preparations decreased $0.5 billion.
- Jewelry decreased $0.4 billion.
- Capital goods decreased $1.2 billion.
- Computer accessories decreased $0.4 billion.
- Other industrial machinery decreased $0.2 billion.
- Telecommunications equipment decreased $0.2 billion.
- Automotive vehicles, parts, and engines decreased $0.5 billion.
Net balance of payments adjustments decreased $0.1 billion.
Exports of services decreased $0.5 billion to $69.2 billion in June.
- Travel (for all purposes including education) decreased $0.4 billion.
- Transport decreased $0.1 billion.
Imports (exhibits 4, 6, and 8)
Imports of goods decreased $4.7 billion to $212.3 billion in June.
Imports of goods on a Census basis decreased $4.4 billion.
- Industrial supplies and materials decreased $3.2 billion.
- Crude oil decreased $1.4 billion.
- Other petroleum products decreased $1.0 billion.
- Fuel oil decreased $0.3 billion.
- Consumer goods decreased $0.9 billion.
- Cell phones and other household goods decreased $1.4 billion.
- Pharmaceutical preparations increased $0.6 billion.
Net balance of payments adjustments decreased $0.2 billion.
Imports of services increased $0.1 billion to $49.2 billion in June, reflecting small (less than $50 million) changes in all major service categories.
Real Goods in 2012 Dollars – Census Basis (exhibit 11)
The real goods deficit decreased $0.3 billion to $86.1 billion in June.
- Real exports of goods decreased $2.8 billion to $148.1 billion.
- Real imports of goods decreased $3.1 billion to $234.2 billion.
Revisions to May exports
- Exports of goods were revised up $0.2 billion.
- Exports of services were revised down $0.1 billion.
Revisions to May imports
- Imports of goods were revised down less than $0.1 billion.
- Imports of services were revised down $0.1 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)
The June figures show surpluses, in billions of dollars, with South and Central America ($4.8), Hong Kong ($2.3), Brazil ($1.3), and United Kingdom ($0.1). Deficits were recorded, in billions of dollars, with China ($30.2), European Union ($15.9), Mexico ($9.2), Japan ($6.2), Germany ($5.2), Canada ($3.3), Italy ($2.6), France ($1.9), Taiwan ($1.7), India ($1.6), South Korea ($1.4), OPEC ($0.3), Saudi Arabia ($0.3), and Singapore ($0.1).
- The deficit with the European Union decreased $1.0 billion to $15.9 billion in June. Exports decreased $0.5 billion to $26.7 billion and imports decreased $1.5 billion to $42.7 billion.
- The surplus with Brazil increased $0.8 billion to $1.3 billion in June. Exports increased $0.3 billion to $3.9 billion and imports decreased $0.5 billion to $2.6 billion.
- The balance with Singapore shifted from a surplus of $0.6 billion to a deficit of $0.1 billion in June. Exports decreased $0.2 billion to $2.5 billion and imports increased $0.4 billion to $2.6 billion.
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All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.
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Next release: September 4, 2019, at 8:30 A.M. EDT
U.S. International Trade in Goods and Services, July 2019
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