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Thursday, August 05, 2021

Trade Deficit Increased to $75.7 Billion in June

by Calculated Risk on 8/05/2021 08:47:00 AM

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 $75.7 billion in June, up $4.8 billion from $71.0 billion in May, revised.

June exports were $207.7 billion, $1.2 billion more than May exports. June imports were $283.4 billion, $6.0 billion more than May imports.
emphasis added
U.S. Trade Exports Imports Click on graph for larger image.

Exports and imports increased in June.

Exports are up 31% compared to June 2020; imports are up 35% compared to June 2020.

Both imports and exports decreased sharply due to COVID-19, and have now bounced back (imports  more than exports),

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.

Note that net, imports and exports of petroleum products are close to zero.

The trade deficit with China decreased to $27.8 billion in June, from $28.3 billion in June 2020.