by Calculated Risk on 7/07/2022 08:46:00 AM
From the Department of Commerce reported:
the goods and services deficit was $85.5 billion in May, down $1.1 billion from $86.7 billion in April,
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.
Both exports and imports increased in May.
Exports are up 22% year-over-year; imports are up 23% year-over-year.
The second graph shows the U.S. trade deficit, with and without petroleum.
Note that net, imports and exports of petroleum products are close to zero.
The trade deficit with China increased to $31.5 billion in May, from $26.1 billion a year ago.