Economic Report: U.S. International Trade in Goods and Services May 2016

FOR IMMEDIATE RELEASE AT 8:30 A.M. EDT, Wednesday, July 6, 2016

CB 16-121
BEA 16—35
FT-900 (16-05)
U.S. Census Bureau
U.S. Bureau of Economic Analysis
U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES May 2016
Read full release here
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $41.1 billion in May, up $3.8 billion from $37.4 billion in April, revised.
May exports were $182.4 billion, $0.3 billion less than April exports.
May imports were $223.5 billion, $3.4 billion more than April imports.
The May increase in the goods and services deficit reflected an increase in the goods deficit
of $3.7 billion to $62.2 billion and a decrease in the services surplus of $0.1 billion to
$21.1 billion.
Year-to-date, the goods and services deficit decreased $7.2 billion, or 3.5 percent, from the
same period in 2015. Exports decreased $47.2 billion or 4.9 percent. Imports decreased $54.3 billion or 4.7 percent.

Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19)

• The May figures show surpluses, in billions of dollars, with South and Central America ($2.9),
• Hong Kong ($1.9), Singapore ($0.5), and Brazil ($0.5).
• Deficits were recorded, in billions of dollars,with China ($28.3), European Union ($11.9), Germany ($5.5), Mexico ($5.5), Japan ($5.0),
• Italy ($2.6), India ($2.1), South Korea ($2.0), Taiwan ($1.2), France ($1.1), Canada ($0.9),
• OPEC ($0.4), United Kingdom ($0.3), and Saudi Arabia ($0.2).

 

   * The deficit with China increased $1.7 billion to $28.3 billion in May. Exports decreased

     $0.1 billion to $9.3 billion and imports increased $1.6 billion to $37.6 billion.

   * The balance with the United Kingdom shifted from a surplus of $0.7 billion to a deficit

     of $0.3 billion in May. Exports decreased $1.2 billion to $4.0 billion and imports

     decreased $0.2 billion to $4.3 billion.

   * The deficit with Japan decreased $0.9 billion to $5.0 billion in May. Exports increased

     $0.6 billion to $5.4 billion and imports decreased $0.3 billion to $10.4 billion.

 

NOTES:

   * All statistics referenced are seasonally adjusted; statistics are on a balance of

     payments basis unless otherwise specified. Additional statistics, including not seasonally

     adjusted statistics and details for goods on a Census basis, are available in Exhibits

     1-20b of this release. For information on data sources, definitions, revision procedures,

     and scheduled release dates through December 2016, see the information section on page A-1

     of this release. The next release is August 5, 2016.

   * For definitions of goods on a balance of payments basis, goods on a Census basis, and net

     balance of payments adjustments, see the information section on page A-1 of this release.