July 2, 2021

The U.S. monthly international trade deficit increased in May 2021 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $69.1 billion in April (revised) to $71.2 billion in May, as imports increased more than exports. The previously published April deficit was $68.9 billion. The goods deficit increased $2.3 billion in May to $89.2 billion. The services surplus increased $0.1 billion in May to $17.9 billion.

Trade deficit for May 2021

Exports

Exports of goods and services increased $1.3 billion, or 0.6 percent, in May to $206.0 billion. Exports of goods increased $0.4 billion and exports of services increased $0.9 billion.

  • The increase in exports of goods reflected increases in consumer goods ($1.0 billion) and in foods, feeds, and beverages ($0.3 billion). Decreases in automotive vehicles, parts, and engines ($0.5 billion) and in capital goods ($0.5 billion) partly offset the increases.
  • The increase in exports of services reflected increases in travel ($0.5 billion) and in charges for the use of intellectual property ($0.2 billion).

Imports

Imports of goods and services increased $3.5 billion, or 1.3 percent, in May to $277.3 billion. Imports of goods increased $2.7 billion and imports of services increased $0.7 billion.

  • The increase in imports of goods reflected increases in industrial supplies and materials ($2.6 billion) and in foods, feeds, and beverages ($0.8 billion). A decrease in capital goods ($1.1 billion) partly offset the increases.
  • The increase in imports of services reflected an increase in travel ($0.6 billion).
The global COVID-19 pandemic and the economic recovery continued to impact international trade. The full economic effects of the pandemic cannot be quantified in the statistics because the impacts are generally embedded in source data and cannot be separately identified. For more detailed information on trade by type of good or service and with major trading partners, see U.S. International Trade in Goods and Services, May 2021.