The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was $77.6 billion in May, up $23 billion from $54.6 billion in April, revised.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $23.6 billion to $106.5 billion and an increase in the services surplus of $0.6 billion to $28.9 billion.
May exports were $317.7 billion, $10.5 billion less than April exports. May imports were $395.3 billion, $12.5 billion more than April imports.
Year-to-date, the goods and services deficit decreased by $203.9 billion, or 40.6%, from the same period in 2025. Exports increased by $164.7 billion, or 11.7%. Imports decreased to $39.2 billion, or 2.1%.
The average goods and services deficit increased $7.5 billion to $62.9 billion for the three months ending in May. Average exports increased $2.0 billion to $321.5 billion in May, while average imports increased $9.5 billion to $384.5 billion in May. Year-over-year, the average goods and services deficit decreased by $23.8 billion from the three months ending in May 2025.
