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.
Exports of goods and services increased $3.0 billion, or 1.2 percent, in May to $255.9 billion. Exports of goods increased $3.0 billion and exports of services increased less than $0.1 billion.
- The increase in exports of goods reflected increases in industrial supplies and materials ($3.3 billion) and in consumer goods ($0.6 billion). A decrease in foods, feeds, and beverages ($1.6 billion) partly offset the increases.
- The increase in exports of services was led by increases in financial services ($0.2 billion) and in government goods and services ($0.2 billion). A decrease in travel ($0.5 billion) partly offset the increases.
Imports of goods and services increased $1.9 billion, or 0.6 percent, in May to $341.4 billion. Imports of goods increased $0.1 billion and imports of services increased $1.8 billion.
- The increase in imports of goods reflected an increase in industrial supplies and materials ($1.8 billion). A decrease in consumer goods ($1.5 billion) partly offset the increase.
- The increase in imports of services reflected increases in travel ($1.0 billion) and in transport ($0.4 billion).
For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, May 2022.