The U.S. monthly international trade deficit increased in May 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $69.1 billion in April (revised) to $71.2 billion in May, as imports increased more than exports. The previously published April deficit was $68.9 billion. The goods deficit increased $2.3 billion in May to $89.2 billion. The services surplus increased $0.1 billion in May to $17.9 billion.
Exports of goods and services increased $1.3 billion, or 0.6 percent, in May to $206.0 billion. Exports of goods increased $0.4 billion and exports of services increased $0.9 billion.
- The increase in exports of goods reflected increases in consumer goods ($1.0 billion) and in foods, feeds, and beverages ($0.3 billion). Decreases in automotive vehicles, parts, and engines ($0.5 billion) and in capital goods ($0.5 billion) partly offset the increases.
- The increase in exports of services reflected increases in travel ($0.5 billion) and in charges for the use of intellectual property ($0.2 billion).
Imports of goods and services increased $3.5 billion, or 1.3 percent, in May to $277.3 billion. Imports of goods increased $2.7 billion and imports of services increased $0.7 billion.
- The increase in imports of goods reflected increases in industrial supplies and materials ($2.6 billion) and in foods, feeds, and beverages ($0.8 billion). A decrease in capital goods ($1.1 billion) partly offset the increases.
- The increase in imports of services reflected an increase in travel ($0.6 billion).