Friday, August 03, 2018

Earlier: Trade Deficit increased to $46.3 Billion in June

by Bill McBride on 8/03/2018 11:52:00 AM

Earlier from the Department of Commerce reported:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $46.3 billion in June, up $3.2 billion from $43.2 billion in May, revised. … June exports were $213.8 billion, $1.5 billion less than May exports. June imports were $260.2 billion, $1.6 billion more than May imports.
U.S. Trade Exports Imports Click on graph for larger image.

Exports decreased and imports increased in June.

Exports are 29% above the pre-recession peak and up 10% compared to June 2017; imports are 12% above the pre-recession peak, and up 9% compared to June 2017.

In general, trade has been picking up.

The second graph shows the U.S. trade deficit, with and without petroleum.

U.S. Trade Deficit The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Oil imports averaged $62.42 in June, up from $58.37 in May, and up from $44.78 in June 2017.

The trade deficit with China increased to $33.5 billion in June, from $32.6 billion in June 2017.