The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $69 billion in May, down $5.5 billion from $74.4 billion in April, revised.
The May decrease in the goods and services deficit reflected a decrease in the goods deficit of $4.8 billion to $91.3 billion and an increase in the services surplus of $0.7 billion to $22.3 billion.
May exports were $247.1 billion, $2.1 billion less than April exports. May imports were $316.1 billion, $7.5 billion more than April imports.
The average goods and services deficit decreased $0.4 billion to $68 billion for the three months ending in May. Year-over-year, the average goods and services deficit decreased $22.9 billion from the three months ending in May 2022.
Read the Census release.
