BEA Announcement: Experimental Distribution of Personal Income Nowcast for 2024 SUITLAND, Md. — The Bureau of Economic Analysis today released experimental nowcast data on the distribution of personal income in 2024.  Distribution of personal income statistics take one of BEA’s primary economic indicators—U.S. personal income—and measure how it is distributed across households. This provides a way to assess how households share in the nation's economic growth. Production of these statistics, though, is slowed by the wait for the necessary high-quality source data. To improve timeliness, BEA has developed an experimental nowcast for 2024 that balances user needs for relevance and accuracy. Machine learning techniques analyze relationships between published annual distributions and current National Income and Product Account totals to generate timely estimates of shares and growth of personal income by household income quintile. The nowcast follows the release last December of updated U.S. distribution of personal income data for 2000-2022 and provisional data for 2023. These distributional statistics build on more than a decade of BEA research by bringing in data such as demographic surveys, aggregated tax records, and administrative records.

News Release

EMBARGOED UNTIL RELEASE AT 8:30 a.m. EDT, Tuesday, August 5, 2025

U.S. International Trade in Goods and Services, June 2025

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $60.2 billion in June, down $11.5 billion from $71.7 billion in May, revised.

U.S. International Trade in Goods and Services Deficit

Deficit:	$60.2 Billion	–16.0%°
Exports:	$277.3 Billion	–0.5%°
Imports:	$337.5 Billion	–3.7%°
Next release: Thursday, September 4, 2025 (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, August 5, 2025

Exports, Imports, and Balance (exhibit 1)

June exports were $277.3 billion, $1.3 billion less than May exports. June imports were $337.5 billion, $12.8 billion less than May imports.

The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $11.4 billion to $85.9 billion and an increase in the services surplus of $0.1 billion to $25.7 billion.

Year-to-date, the goods and services deficit increased $161.5 billion, or 38.3 percent, from the same period in 2024. Exports increased $82.2 billion or 5.2 percent. Imports increased $243.7 billion or 12.1 percent.

Three-Month Moving Averages (exhibit 2)

The average goods and services deficit decreased $26.0 billion to $64.0 billion for the three months ending in June.

• Average exports decreased $1.3 billion to $282.2 billion in June.
• Average imports decreased $27.3 billion to $346.2 billion in June.

Year-over-year, the average goods and services deficit decreased $9.8 billion from the three months ending in June 2024.

• Average exports increased $15.6 billion from June 2024.
• Average imports increased $5.8 billion from June 2024.

Exports (exhibits 3, 6, and 7)

Exports of goods decreased $1.2 billion to $179.1 billion in June.

    Exports of goods on a Census basis decreased $1.3 billion.

• Industrial supplies and materials decreased $4.8 billion.
  • Finished metal shapes decreased $4.6 billion.
  • Nonmonetary gold decreased $2.0 billion.
• Capital goods increased $2.0 billion.
  • Excavating machinery increased $1.6 billion.
  • Civilian aircraft increased $0.8 billion.
  • Computer accessories decreased $1.2 billion.
• Consumer goods increased $1.0 billion.
  • Pharmaceutical preparations increased $1.6 billion.

    Net balance of payments adjustments increased $0.1 billion.

Treatment of Gold in BEA's International and National Economic Accounts

When incorporating the statistics in this release into BEA's National Economic Accounts, including Gross Domestic Product, or GDP, BEA replaces exports and imports of nonmonetary gold with an adjustment calculated as the difference between domestic production and industrial use of gold. For additional information, see "How are exports and imports of gold recorded in BEA's International Economic Accounts?" and "How are exports and imports of nonmonetary gold treated in BEA's National Economic Accounts?".

Exports of services decreased $0.2 billion to $98.2 billion in June.

• Travel decreased $0.2 billion.

Imports (exhibits 4, 6, and 8)

Imports of goods decreased $12.6 billion to $265.0 billion in June.

    Imports of goods on a Census basis decreased $12.6 billion.

• Consumer goods decreased $8.4 billion.
  • Pharmaceutical preparations decreased $9.6 billion.
• Industrial supplies and materials decreased $2.7 billion.
  • Crude oil decreased $1.0 billion.
  • Nuclear fuel materials decreased $0.4 billion.
  • Other petroleum products increased $0.5 billion.
• Automotive vehicles, parts, and engines decreased $1.3 billion.
  • Passenger cars decreased $1.1 billion.

    Net balance of payments adjustments increased less than $0.1 billion.

Imports of services decreased $0.2 billion to $72.5 billion in June.

• Travel decreased $0.2 billion.
• Transport decreased $0.2 billion.
• Other business services increased $0.1 billion.

Real Goods in 2017 Dollars – Census Basis (exhibit 11)

The real goods deficit decreased $8.7 billion, or 9.3 percent, to $84.6 billion in June, compared to an 11.8 percent decrease in the nominal deficit.

• Real exports of goods decreased $2.2 billion, or 1.5 percent, to $145.8 billion, compared to a 0.7 percent decrease in nominal exports.
• Real imports of goods decreased $11.0 billion, or 4.5 percent, to $230.4 billion, compared to a 4.6 percent decrease in nominal imports.

Revisions

Revisions to May exports

• Exports of goods were revised up $0.1 billion.
• Exports of services were revised down $0.4 billion.

Revisions to May imports

• Imports of goods were revised down $0.1 billion.
• Imports of services were revised down $0.1 billion.

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

The June figures show surpluses, in billions of dollars, with 

• Netherlands ($6.2), 
• South and Central America ($4.4), 
• United Kingdom ($2.2), 
• Australia ($1.6), 
• Hong Kong ($1.6), 
• Brazil ($1.3), 
• Saudi Arabia ($0.3), 
• Singapore ($0.2), and 
• Belgium ($0.1). 

 

Deficits were recorded, in billions of dollars, with 

• Mexico ($16.3), 
• Vietnam ($16.2), 
• Taiwan ($12.9), 
• European Union ($9.5), 
• China ($9.4), 
• Japan ($5.7), 
• South Korea ($5.5), 
• Ireland ($5.3), 
• India ($5.3), 
• ($4.0), 
• Malaysia ($3.1), 
• Italy ($1.6), 
• Canada ($1.3), 
• France ($0.7), 
• Israel ($0.1), and 
• Switzerland (less than $0.1).

The deficit with Ireland decreased $6.5 billion to $5.3 billion in June. Exports decreased $0.2 billion to $1.4 billion and imports decreased $6.7 billion to $6.7 billion.

The deficit with China decreased $4.6 billion to $9.4 billion in June. Exports increased $3.1 billion to $10.1 billion and imports decreased $1.4 billion to $19.4 billion.

The balance with Switzerland shifted from a surplus of $3.3 billion in May to a deficit of less than $0.1 billion in June. 

Exports decreased $2.4 billion to $4.1 billion and 

imports increased $0.9 billion to $4.1 billion.

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, and revision procedures, see the explanatory notes in this release. 

The full release can be found at 

www.census.gov/foreign-trade/Press-Release/current_press_release/index.html 

or  

www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. 

The full schedule is available in the Census Bureau's Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA's website at www.bea.gov/news/schedule.

Next release: September 4, 2025, at 8:30 a.m. EDT
U.S. International Trade in Goods and Services, July 2025