The U.S. monthly international trade deficit increased in May 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $49.8 billion in April (revised) to $54.6 billion in May, as exports decreased more than imports. The previously published April deficit was $49.4 billion. The goods deficit increased $4.2 billion in May to $76.1 billion. The services surplus decreased $0.6 billion in May to $21.5 billion.

Exports
Exports of goods and services decreased $6.6 billion, or 4.4 percent, in May to $144.5 billion. Exports of goods decreased $5.5 billion and exports of services decreased $1.1 billion.

• The decrease in exports of goods reflected decreases in industrial supplies and materials ($3.9 billion) and in capital goods ($0.9 billion).
• The decrease in exports of services reflected decreases in other business services ($0.6 billion), in financial services ($0.2 billion), and in charges for the use of intellectual property ($0.2 billion).

Imports
Imports of goods and services decreased $1.8 billion, or 0.9 percent, in May to $199.1 billion. Imports of goods decreased $1.3 billion and imports of services decreased $0.5 billion.

• The decrease in imports of goods reflected decreases in automotive vehicles, parts, and engines ($4.4 billion) and in capital goods ($0.6 billion). Increases in industrial supplies and materials ($2.3 billion) and in consumer goods ($1.9 billion) partly offset the decreases.
• The decrease in imports of services reflected decreases in charges for the use of intellectual property ($0.2 billion), in other business services ($0.1 billion), in travel ($0.1 billion), and in financial services ($0.1 billion).

For more information, read the full report.