The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $54.6 billion in May, up $4.8 billion from $49.8 billion in April, revised.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $4.2 billion to $76.1 billion and a decrease in the services surplus of $0.6 billion to $21.5 billion.
May exports were $90.0 billion, $5.5 billion less than April exports. May imports were $166.0 billion, $1.3 billion less than April imports.
The average goods and services increased $6.6 billion to $48.9 billion for the three months ending in May.
Year-over-year, the average goods and services deficit decreased $0.9 billion from the three months ending in May 2019.
Year-to-date, the goods and services deficit decreased $22.3 billion, or 9.1%, from May 2019. Exports decreased $148.3 billion or 14.0%. Imports decreased $170.6 billion or 13.1%.
Read the Census/BEA release.