Goods, services deficit rose $3.4 billion in June

The U.S. Department of Commerce announced Aug. 19 that the nation's international deficit in goods and services increased to $24.6 billion in June, from a revised $21.2 billion in May, as imports increased more than exports.

Goods and services. According to information from the Bureau of the Census and Bureau of Economic Analysis, exports increased to $78.4 billion from $78 billion in May. Goods weighed in at $55.3 billion in June, up from $55.1 billion in May, and services came in at $23.1 billion in June, up from $22.8 billion in May.

Imports increased to $103 billion in June, from $99.1 billion in May. Goods were $86.7 billion in June, up from $83 billion in May, and services were $16.3 billion in June, up from $16.1 billion in May. For goods, the deficit was $31.4 billion in June, up from $27.9 billion in May. For services, the surplus was $6.8 billion in June, up from $6.7 billion in May, the release stated.

Goods by category. The largest increases in exports were in automotive vehicles, parts and engines (primarily passenger cars and parts), foods, feeds and beverages, and industrial supplies and materials.

The largest increases in imports were in capital goods (primarily telecommunications equipment, computer accessories, and computers), consumer goods, and automotive vehicles, parts and engines.

Goods by geographic area (not seasonally adjusted). The goods deficit with China increased from $5.3 billion in May to $5.7 billion in June. Exports increased $400 million (primarily transport equipment) to $1.5 billion, while imports increased $800 million (primarily apparel, and toys and games) to $7.1 billion.

The goods deficit with Canada increased from $2.1 billion in May to $2.8 billion in June. Exports increased $200 million (primarily computers and electrical machinery) to $14.3 billion, while imports increased $900 million (primarily automobiles and automobile parts, and petroleum products) to $17.1 billion.

The goods deficit with Western Europe increased from $3.6 billion in May to $4.9 billion in June. Exports decreased $100 million (primarily transport equipment) to $13.4 billion, while imports increased $1.3 billion (primarily automobiles and automobile parts, and computer products) to $18.4 billion.

For more information on this, check out

www.doc.gov,

the Department of Commerce Web site.

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