August 6, 2024
The U.S. goods and services trade deficit decreased from $75.0 billion in May (revised) to $73.1 billion in June, as exports increased more than imports. The goods deficit decreased $2.5 billion to $97.4 billion, and the services surplus decreased $0.6 billion to $24.2 billion.
Exports of goods and services increased $3.9 billion, or 1.5 percent, in June to $265.9 billion. Exports of goods increased $4.4 billion, and exports of services decreased $0.4 billion.
- The increase in exports of goods reflected increases in capital goods ($1.9 billion) and in industrial supplies and materials ($1.4 billion).
- The decrease in exports of services reflected a decrease in travel ($0.4 billion).
Imports of goods and services increased $2.0 billion, or 0.6 percent, in June to $339.0 billion. Imports of goods increased $1.9 billion, and imports of services increased $0.2 billion.
- The increase in imports of goods reflected increases in consumer goods ($2.3 billion) and in capital goods ($2.2 billion). A decrease in industrial supplies and materials ($1.9 billion) partly offset the increases.
- The increase in imports of services reflected increases in travel ($0.1 billion) and in maintenance and repair services ($0.1 billion). A decrease in transport ($0.2 billion) partly offset the increases.
Real, or inflation-adjusted, statistics are also available for trade in goods (Census basis). The real goods deficit decreased 2.6 percent in June, compared to a 2.5 percent decrease in the nominal deficit. Real exports of goods increased 3.2 percent, compared to a 2.7 percent increase in nominal exports. Real imports of goods increased 0.9 percent, compared to a 0.8 percent increase in nominal imports.
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