The U.S. goods and services trade deficit decreased from $74.4 billion in April (revised) to $69.0 billion in May, as imports decreased more than exports. The goods deficit decreased $4.8 billion to $91.3 billion, and the services surplus increased $0.7 billion to $22.3 billion
Exports of goods and services decreased $2.1 billion, or 0.8 percent, in May to $247.1 billion. Exports of goods decreased $2.5 billion, and exports of services increased $0.4 billion.
- The decrease in exports of goods reflected decreases in foods, feeds, and beverages ($1.9 billion) and in industrial supplies and materials ($1.5 billion). An increase in automotive vehicles, parts, and engines ($1.0 billion) partly offset the decreases.
- The increase in exports of services reflected increases in other business services ($0.2 billion), in travel ($0.1 billion), and in transport ($0.1 billion). A decrease in charges for the use of intellectual property ($0.1 billion) partly offset the increases.
Imports of goods and services decreased $7.5 billion, or 2.3 percent, in May to $316.1 billion. Imports of goods decreased $7.2 billion, and imports of services decreased $0.3 billion.
- The decrease in imports of goods reflected decreases in consumer goods ($4.8 billion) and in industrial supplies and materials ($3.5 billion). An increase in capital goods ($0.8 billion) partly offset the decreases.
- The decrease in imports of services reflected decreases in transport ($0.2 billion) and in travel ($0.2 billion).
Real, or inflation-adjusted, statistics are also available for trade in goods. The real goods deficit decreased 7.3 percent in May, compared to a 5.8 percent decrease in the nominal deficit. Real exports of goods increased 1.2 percent, compared to a 0.9 percent decrease in nominal exports. Real imports of goods decreased 2.3 percent, compared to a 2.7 percent decrease in nominal imports.
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