by Calculated Risk on 8/06/2014 08:30:00 AM
Wednesday, August 06, 2014
Trade Deficit decreased in June to $41.5 Billion
The Department of Commerce reported:
[T]otal June exports of $195.9 billion and imports of $237.4 billion resulted in a goods and services deficit of $41.5 billion, down from $44.7 billion in May, revised. June exports were $0.3 billion more than May exports of $195.6 billion. June imports were $2.9 billion less than May imports of $240.3 billion.The trade deficit was smaller than the consensus forecast of $45.0 billion.
The first graph shows the monthly U.S. exports and imports in dollars through June 2014.
![U.S. Trade Exports Imports](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEihLJq6tXGefHfAJxqaWgW9HPv2E5kDFsGRL5bPbliBdT-SLTNkf-U3H35I9_7PuEacj_vzjKpridTIlDFCSc1WE5mVPyMQO2JhZjr2cGxEfEAUxS4KpYfNb9XvZn5_peY5mEh_/s320/TradeJune2014.jpg)
Imports decreased and exports increased in June.
Exports are 18% above the pre-recession peak and up 3% compared to June 2013; imports are about 2% above the pre-recession peak, and up about 5% compared to June 2013.
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/AVvXsEjKE24re6el3sHVuzHpJkrUukVlN2GNyNLwBSOqyp0mjSLNXo9RELuaPiX8dG826OYOk0VWCE8xMWWtO2ZlxQijFmdkNXIuurBdgHcPNs3QYYTS2wdTbwZaShNSJjYw-6E40bZO/s320/TradeDeficitJune2014.jpg)
Oil imports averaged $96.41 in June, up from $96.12 in May, and down from $96.87 in June 2013. The petroleum deficit has generally been declining and is the major reason the overall deficit has declined since early 2012.
The trade deficit with China increased to $30.1 billion in June, from $26.7 billion in June 2013.