US trade deficit narrows to $50.7 billion in June

US trade deficit narrows to $50.7 billion in June

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The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $50.7 billion in June, down $4.1 billion from $54.8 billion in May, revised.

June exports were $158.3 billion, $13.6 billion more than May exports. June imports were $208.9 billion, $9.5 billion more than May imports. The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $4.0 billion to $72.2 billion and an increase in the services surplus of $0.1 billion to $21.5 billion.

Year-to-date, the goods and services deficit decreased $23.1 billion, or 7.8 percent, from the same period in 2019. Exports decreased $199.1 billion or 15.7 percent. Imports decreased $222.3 billion or 14.2 percent.

The June figures show surpluses, in billions of dollars, with South and Central America ($1.8), United Kingdom ($1.3), Hong Kong ($1.0), OPEC ($0.5), and Brazil ($0.4).

Deficits were recorded, in billions of dollars, with China ($26.7), European Union ($13.1), Mexico ($9.0), Germany ($3.8), Taiwan ($2.4), Italy ($2.1), South Korea ($1.9), Japan ($1.8), India ($1.7), France ($1.0), Saudi Arabia ($0.7), Singapore ($0.2), and Canada ($0.1).

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