The U.S. trade deficit in goods expanded to $63.4 billion in May, up $5.0 billion from April, as exports fell by $0.9 billion to $130.3 billion, and imports rose $4.2 billion to $193.7 billion.
The total deficit, including trade in services, stood at $45.0 billion in May, up from $40.1 billion in April.
Exports of consumer goods; industrial supplies and materials; and foods, feeds, and beverages dropped from April’s level, while there were increases in exports of capital goods; automotive vehicles, parts, and engines; and other goods. Industrial supplies and materials and consumer goods led the increase in imports, followed by automotive vehicles, parts, and engines; other goods; foods, feeds, and beverages; and capital goods.
Exports of goods were virtually unchanged year-over-year, with increases in automotive vehicles, parts, and engines and consumer goods, among others, offset by decreases in foods, feeds, and beverages and industrial supplies and materials.
The U.S. goods deficit with China widened by more than $3 billion month-to-month, to $27.9 billion, and it also expanded with Mexico, climbing to $5.3 billion from $4.4 billion in May. The goods deficit narrowedl with the European Union ($10.8 billion, down from $12.4 billion in April), Japan ($5.4 billion, down from $6.9 billion), and Canada ($1.9 billion, down from $2.3 billion). Goods trade surpluses increased with Hong Kong ($3.0 billion, up from $2.4 billion in April), Australia ($1.4 billion, up from $1.1 billion), and Singapore ($1.2 billion, up from $0.8 billion).