Commerce, announced today that the goods and services deficit was $43.6 billion in June, down
$2.7 billion from $46.4 billion in May, revised. June exports were $194.4 billion, $2.4 billion
more than May exports. June imports were $238.0 billion, $0.4 billion less than May imports.
The June decrease in the goods and services deficit reflected a decrease in the goods deficit of
$2.1 billion to $65.2 billion and an increase in the services surplus of $0.6 billion to $21.6
billion.
Year-to-date, the goods and services deficit increased $26.7 billion, or 10.7 percent, from the
same period in 2016. Exports increased $64.9 billion or 6.0 percent. Imports increased $91.7
billion or 6.9 percent.
Goods and Services Three-Month Moving Averages (Exhibit 2)
The average goods and services deficit decreased $0.5 billion to $45.9 billion for the three
months ending in June.
* Average exports of goods and services increased $1.0 billion to $192.5 billion in June.
* Average imports of goods and services increased $0.4 billion to $238.4 billion in June.
Year-over-year, the average goods and services deficit increased $4.6 billion from the three
months ending in June 2016.
* Average exports of goods and services increased $9.9 billion from June 2016.
* Average imports of goods and services increased $14.5 billion from June 2016.
Exports (Exhibits 3, 6, and 7)
Exports of goods increased $1.7 billion to $129.0 billion in June.
Exports of goods on a Census basis increased $1.9 billion.
* Capital goods increased $0.8 billion.
* Foods, feeds, and beverages increased $0.7 billion.
o Soybeans increased $0.6 billion.
* Automotive vehicles, parts, and engines increased $0.4 billion.
* Consumer goods decreased $0.3 billion.
o Pharmaceutical preparations decreased $0.4 billion.
Net balance of payments adjustments decreased $0.2 billion.
Exports of services increased $0.6 billion to $65.4 billion in June.
* Travel (for all purposes including education) increased $0.3 billion.
* Transport, which includes freight and port services and passenger fares, increased
$0.1 billion.
* Financial services increased $0.1 billion.
Imports (Exhibits 4, 6, and 8)
Imports of goods decreased $0.4 billion to $194.3 billion in June.
Imports of goods on a Census basis decreased $0.3 billion.
* Industrial supplies and materials decreased $1.1 billion.
o Crude oil decreased $1.4 billion.
* Consumer goods decreased $0.7 billion.
o Cell phones and other household goods decreased $0.9 billion.
* Automotive vehicles, parts, and engines increased $1.0 billion.
o Passenger cars increased $1.3 billion.
Net balance of payments adjustments decreased $0.1 billion.
Imports of services were nearly unchanged at $43.8 billion in June, reflecting small and
offsetting changes across categories.
Real Goods in 2009 Dollars – Census Basis (Exhibit 11)
The real goods deficit decreased $1.8 billion to $61.0 billion in June.
* Real exports of goods increased $2.0 billion to $126.9 billion.
* Real imports of goods increased $0.3 billion to $187.9 billion.
Revisions
Revisions to May exports
* Exports of goods were revised up $0.1 billion.
* Exports of services were revised down $0.1 billion.
Revisions to May imports
* Imports of goods were revised down less than $0.1 billion.
* Imports of services were revised down $0.1 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19)
The June figures show surpluses, in billions of dollars, with Hong Kong ($2.9), South and
Central America ($2.6), Singapore ($0.9), Brazil ($0.5), and United Kingdom ($0.2). Deficits were
recorded, in billions of dollars, with China ($31.3), European Union ($12.5), Germany ($5.6),
Japan ($5.5), Mexico ($5.5), Italy ($2.7), India ($1.9), South Korea ($1.8), Taiwan ($1.7),
France ($1.1), Canada ($1.0), OPEC ($0.7), and Saudi Arabia (less than $0.1).
* The deficit with Mexico decreased $1.2 billion to $5.5 billion in June. Exports increased
$1.7 billion to $20.8 billion and imports increased $0.5 billion to $26.3 billion.
* The deficit with Canada decreased $1.2 billion to $1.0 billion in June. Exports decreased
less than $0.1 billion to $23.6 billion and imports decreased $1.2 billion to $24.5 billion.
NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments
basis unless otherwise specified. Additional statistics, including not seasonally adjusted
statistics and details for goods on a Census basis, are available in Exhibits 1-20b of this
release. For information on data sources, definitions, revision procedures, and scheduled release
dates through December 2017, see the information section on page A-1 of this release. The next
release is September 6, 2017.
NOTE: For definitions of goods on a balance of payments basis, goods on a Census basis, and net
balance of payments adjustments, see the information section on page A-1 of this release.