The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $75.1 billion in May, up $0.6 billion from $74.5 billion in April, revised.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $0.9 billion to $100.2 billion and an increase in the services surplus of $0.3 billion to $25.1 billion.
May exports were $261.7 billion, $1.8 billion less than April exports. May imports were $336.7 billion, $1.2 billion less than April imports.
The average goods and services deficit increased $2.0 billion to $72.7 billion for the three months ending in May. Year-over-year, the average goods and services deficit increased $6.3 billion from the three months ending in May 2023.
Read the Census release.
