The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $85.5 billion in May, down $1.1 billion from $86.7 billion in April, revised.
The May increase in the goods and services deficit reflected a decrease in the goods deficit of $2.9 billion to $105.0 billion and a decrease in the services surplus of $1.7 billion to $19.4 billion.
May exports were $255.9 billion, $3.0 billion more than April exports. May imports were $341.4 billion, $1.9 billion more than April imports.
The average goods and services deficit decreased $0.9 billion to $93.3 billion for the three months ending in May. Year-over-year, the average goods and services deficit increased $26.5 billion from the three months ending in May 2021.
Read the Census/BEA release.