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  4. June 2016 Trade Gap is $44.5 Billion

June 2016 Trade Gap is $44.5 Billion

August 5, 2016

The U.S. monthly international trade deficit increased in June 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $41.0 billion in May (revised) to $44.5 billion in June, as imports increased more than exports. The previously published May deficit was $41.1 billion. The goods deficit increased $3.8 billion in June to $66.0 billion. The services surplus increased $0.3 billion to $21.5 billion.

Balance on Goods and Services Trade Chart

Exports
Exports of goods and services increased $0.6 billion, or 0.3 percent, in June to $183.2 billion. Exports of goods increased $0.5 billion and exports of services increased $0.1 billion.

  • The increase in exports of goods mainly reflected increases in foods, feeds, and beverages ($0.6 billion) and in consumer goods ($0.4 billion). A decrease in automotive vehicles, parts, and engines ($0.4 billion) was partly offsetting.
  • The increase in exports of services mainly reflected increases in financial services ($0.1 billion) and in maintenance and repair services ($0.1 billion).

Imports
Imports of goods and services increased $4.2 billion, or 1.9 percent, in June to $227.7 billion. Imports of goods increased $4.4 billion and imports of services decreased $0.2 billion.

  • The increase in imports of goods mainly reflected increases in industrial supplies and materials ($2.3 billion) and in consumer goods ($1.9 billion).
  • The decrease in imports of services mainly reflected decreases in travel (for all purposes including education) ($0.1 billion) and in transport ($0.1 billion), which includes freight and port services and passenger fares.

Goods by geographic area (seasonally adjusted, Census basis)

  • The deficit with Japan increased $1.0 billion to $6.0 billion in June. Exports decreased $0.4 billion and imports increased $0.6 billion.
  • The deficit with the European Union increased $0.8 billion to $12.7 billion in June. Exports increased $0.9 billion and imports increased $1.7 billion.
  • The deficit with Mexico decreased $0.8 billion to $4.7 billion in June. Exports increased $0.3 billion and imports decreased $0.5 billion.

For more information, read the full report.