The US trade deficit in June was $79.6 billion (consensus $81.7 billion) from a revised deficit of $84.9 billion (from $85.5 billion) in May. The China and US trade deficit rose to -$36.95 billion vs. May deficit $-31.54 billion. Exports were up 3.5% to a record high of $260.8 billion, led by natural gas. Imports fell again to $340.41 billion vs. May $341.43 billion These monthly swings are also influenced by the supply crisis affecting orders and deliveries.
- International trade deficit -79.6 billion vs. a revised -84.98 billion from 85.5B
- Goods trade balance -99.5 billion vs. -104.0 billion last month
- Services a surplus $19.87 billion
- Exports $260.8 billion vs. May $256.52 billion
- Imports $340.41 billion vs. May $341.43 billion
- Capital goods imports $72.2 billion vs. May $71.42 billion
- China trade deficit $-36.95 billion vs. May deficit $-31.54 billion
- Oil import prices $104.81 vs. $98.99 in May
Deficit Source by Country and Product
China remains the single largest source of the U.S. trade deficit, the next-largest single-country trade deficit posted by the U.S. is with Mexico,
- The deficit with China increased $4.7 billion to $36.9 billion in June. Exports decreased $0.6
billion to $11.9 billion and imports increased $4.1 billion to $48.8 billion
- The deficit with Canada decreased $2.5 billion to $7.3 billion in June. Exports increased $1.0
billion to $30.5 billion and imports decreased $1.5 billion to $37.7 billion
- The balance with Switzerland shifted from a deficit of $1.9 billion to a surplus of $0.9 billion
in June. Exports increased $2.1 billion to $4.7 billion and imports decreased $0.7 billion to
Exports were up $3.5 billion to $183.0 billion in June. Exports of goods on a Census basis increased $3.7 billion.
• Industrial supplies and materials increased $4.7 billion.
o Nonmonetary gold increased $1.8 billion.
o Natural gas increased $1.6 billion.
• Foods, feeds, and beverages increased $0.9 billion.
• Capital goods decreased $1.1 billion.
o Civilian aircraft decreased $0.8 billion
Imports declined $1.4 billion to $282.5 billion in June.
Imports of goods on a Census basis decreased $1.2 billion.
• Automotive vehicles, parts, and engines decreased $2.7 billion.
o Passenger cars decreased $1.3 billion.
o Other automotive parts and accessories decreased $0.7 billion.
• Capital goods increased $0.9 billion.
o Computers increased $1.4 billion.
• Industrial supplies and materials increased $0.6 billion.
o Other petroleum products increased $1.0 billion.
From The Traders Community News Desk