The United States trade deficit widened in May as imports continued to outpace exports, the Bureau of Labor Statistics reported.
- The goods and services deficit grew by $2.2 billion to $71.2 billion versus April’s $69.1 billion, reflecting a $2.3-billion deficit in goods to $89.2 billion and a $0.1 surplus in services to $17.9 billion. The year-to-date deficit climbed $110.9 billion or 45.8%.
- Exports for the month climbed to $206.0 billion, comprising $145.5 billion in goods and $60.5 billion in services. Increases were seen in consumer goods, foods, feeds, and beverages, and travel.
- Imports grew to $234.7 billion, with goods up $2.6 billion and services up $42.6 billion. Increases were noted in industrial supplies, foods, feeds, and beverages, and travel.
The three-month average deficit increased by $0.2 billion to $71.8 billion.