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U.S. global trade deficit diminishes in May

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis revealed today that the products and services deficit was $85.5 billion in May, down $1.1 billion from $86.7 billion in April, modified.

The May boost in the products and services deficit showed a reduction in the products deficit of $2.9 billion to $105.0 billion and a reduction in the services surplus of $1.7 billion to $19.4 billion.

May exports were $255.9 billion, $3.0 billion more than April exports. May imports were $341.4 billion, $1.9 billion more than April imports.

The typical products and services deficit reduced $0.9 billion to $93.3 billion for the 3 months ending in May. Year-over-year, the typical products and services deficit increased $26.5 billion from the 3 months ending in May 2021.

Read the Census/BEA release.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

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