The US Trade Deficit Rose Sharply In May.
The US Department of Commerce announced July 13th international merchandise and services in May.
trade deficit
The increase was 4.8% to $42 billion 270 million, the largest since November 2008.
The revised trade deficit in April was US $40 billion 320 million, with a preliminary figure of US $40 billion 290 million.
Economists surveyed by Dow Jones newswires estimated that the trade deficit narrowed to $38 billion 900 million in May.
The real trade deficit adjusted for inflation in May expanded from $44 billion 170 million in April to $46 billion 40 million.
In May, US exports increased 2.4% to 20 months high 152 billion 250 million US dollars, up from 148 billion 720 million US dollars last month.
US imports increased by 2.9% in May to $194 billion 520 million, up from $189 billion 40 million last month.
US crude oil in May
Import volume
From $22 billion 690 million last month to $21 billion 540 million, oil prices are out of the recent high.
The average price of crude oil dropped by 20 cents to 76.93 dollars.
Crude oil imports also fell during the month, down from 294 million 120 thousand barrels last month to 280 million 30 thousand barrels.
In May, imports of various energy products amounted to US $27 billion 600 million, down from US $28 billion 830 million in April.
US imports of industrial goods decreased by US $2 billion 220 million in May.
Exports of capital goods increased by US $1 billion 990 million during the month.
US industrial exports increased by US $567 million in May.
Exports of consumer goods increased by US $345 million.
Automobile exports increased by US $138 million.
Us May to China
Trade
The deficit was $22 billion 280 million, an increase of 15% from $19 billion 310 million last month, the highest level since last October.
Imports to China increased by US $3 billion 130 million in that month, while exports increased by only US $162 million.
The US trade deficit with Mexico expanded to the largest level in two years, from $5 billion 330 million to $6 billion 150 million.
The US trade deficit with the euro area increased to $5 billion 200 million, up from $4 billion 830 million last month.
The trade deficit with Japan narrowed from $4 billion 820 million to $3 billion 610 million, and the US trade deficit against Canada narrowed from $2 billion 730 million to $2 billion 330 million in May.
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