The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.5 billion in May, up $11.3 billion from $60.3 billion in April, revised.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $11.2 billion to $97.5 billion and an increase in the services surplus of $0.1 billion to $26.0 billion.
May exports were $289.4 billion, $8.3 billion more than April exports. May imports were $351.0 billion, $68.4 billion less than April imports.
Year-to-date, the goods and services deficit increased by $175.0 billion, or 50.4%, from the same period in 2024. Exports increased by $73.6 billion, or 5.5%. Imports increased by $248.7 billion, or 14.8%.
The average goods and services deficit decreased by $16.8 billion to $90.0 billion for the three months ending in May. Average exports increased by $0.1 billion to $283.5 billion in May, while average imports decreased by $16.7 billion to $373.6 billion in May. Year-over-year, the average goods and services deficit increased by $18.8 billion from the three months ending in May 2024.
Read the Census release.
