Economy

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With tariffs and trade wars now dinner conversation the US trade deficit has been a hot topic. In June the US had a $46.3 billion deficit up from the $43.2 billion in May. The deficit with China was $32.5 billion. 

US Trade July

Highlights 

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.
  • The June increase in the goods and services deficit reflected an increase in the goods deficit of $3.1 billion to $68.8 billion and a decrease in the services surplus of less than $0.1 billion to $22.5 billion.
  • Year-to-date, the goods and services deficit increased $19.6 billion, or 7.2 percent, from the same period in 2017.
  • Exports increased $103.6 billion or 9.0 percent. Imports increased $123.2 billion or 8.6 percent.

The June figures show surpluses, in billions of dollars with,

South and Central America ($3.3), Hong Kong ($2.5), Brazil ($0.8), United Kingdom ($0.4), and Singapore (less than $0.1).

Deficits were recorded, in billions of dollars,

 China ($32.5), European Union ($12.8), Mexico ($6.7), Germany ($5.7), Japan ($5.6), Canada ($2.6), Italy ($2.2), OPEC ($1.8), India ($1.7), Taiwan ($1.4), South Korea ($1.3), Saudi Arabia ($0.8), and France ($0.7).

* The deficit with members of OPEC increased $1.6 billion to $1.8 billion in June. Exports decreased $0.8 billion to $5.0 billion and imports increased $0.7 billion to $6.7 billion.

* The deficit with the European Union increased $0.9 billion to $12.8 billion in June. Exports decreased $0.3 billion to $27.2 billion and imports increased $0.6 billion to $40.0 billion.

* The deficit with Japan decreased $0.4 billion to $5.6 billion in June. Exports decreased $0.2 billion to $6.1 billion and imports decreased $0.7 billion to $11.7 billion.

From The Traders Community News Desk

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