by Calculated Risk on 8/12/2009 08:30:00 AM
Wednesday, August 12, 2009
Trade Deficit Increases in June
The Census Bureau reports:
The ... total June exports of $125.8 billion and imports of $152.8 billion resulted in a goods and services deficit of $27.0 billion, up from $26.0 billion in May, revised. June exports were $2.4 billon more than May exports of $123.4 billion. June imports were $3.5 billion more than May imports of $149.3 billion.
![U.S. Trade Exports Imports](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitcucTy8nNDym2_zGakiQaUsy67hyphenhyphennYo6diXyDaddAjSOU3XkvN8qcHBbOLdF5Vnka2_RDqpTL8CsHOSZubgebED3mYNXFd4Gw8I4u5XCaAbWByyK_KsvcAXZHSIIQbZHqUV3WPQ/s320/TradeJune2009.jpg)
The first graph shows the monthly U.S. exports and imports in dollars through June 2009.
Imports were up in June, mostly because of a spike in oil prices. Exports also increased in June. On a year-over-year basis, exports are off 22% and imports are off 31%.
The second graph shows the U.S. trade deficit, with and without petroleum, through June.
![U.S. Trade Deficit](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgv13fjFUAjd5ClvmJTRlzAedLOhiSHd8ksxXvi3P_OrAI221Rk37rMlr8Odd3IzoNQYWMXmPm7LMbt_XtoB8NWdtT72QHZW16YGmBWsKWUX047yPC8i6KhC3dexJuEeU3uBnyO_w/s320/TradeDeficitJune2009.jpg)
Import oil prices increased to $59.17 in June - up about 50% from the prices in February - and the fourth monthly increase in a row. Import oil prices will rise further for July and August.
It appears the cliff diving for U.S. trade might be over - especially for U.S. exports.