by Calculated Risk on 8/04/2017 11:59:00 AM
Friday, August 04, 2017
Trade Deficit at $43.6 Billion in June
Earlier from the Department of Commerce reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $43.6 billion in June, down $2.7 billion from $46.4 billion in May, revised. June exports were $194.4 billion, $2.4 billion more than May exports. June imports were $238.0 billion, $0.4 billion less than May imports.
Imports decreased and exports increased in June.
Exports are 18% above the pre-recession peak and up 6% compared to June 2016; imports are 3% above the pre-recession peak, and up 5% compared to June 2016.
In general, trade has been picking up.
The second graph shows the U.S. trade deficit, with and without petroleum.
Oil imports averaged $44.68 in June, down from $45.03 in May, and up from $39.38 in June 2016. The petroleum deficit had been declining for years - and is the major reason the overall deficit has mostly moved sideways since early 2012.
The trade deficit with China increased to $32.6 billion in June, from $29.7 billion in June 2016.