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THURSDAY July 12, 2007 MAY 2007 TRADE GAP IS $60.0 BILLION U.S. international trade in goods and services USCENSUSBUREAU Helping You Make Informed Decisions The U.S. monthly goods and services deficit increased in May 2007, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $58.7 billion (revised) in April to $60.0 billion in May, as imports increased more than exports. The April deficit was slightly higher than its previously published value of $58.5 billion. Balance on Goods and Services Trade [Monthly, seasonally adjusted] ($ in Billions) $0 -$10 -$20 -$30 -$40 -$50 -$60 -$70 -$80 2000 2001 2002 2003 2004 2005 2006 2007 Exports Exports of goods and services increased $2.9 billion in May to $132.0 billion, mostly reflecting an increase in goods exports. Services exports also increased. The increase in goods exports reflected increases in capital goods and industrial supplies and materials. The increase in services exports mostly reflected increases in other private services and transfers under U.S. military sales contracts. Imports Imports of goods and services increased $4.2 billion in May to $192.1 billion, mostly reflecting an increase in goods imports. Services imports also increased. The increase in goods imports mostly reflected increases in industrial supplies and materials, capital goods, and consumer goods, which were partly offset by a decrease in automotive vehicles, parts, and engines. The increase in services imports reflected increases in other transportation and other private services. Goods by geographic area (not seasonally adjusted) The goods deficit with Canada decreased from $5.8 billion in April to $5.2 billion in May. Exports increased $1.6 billion to $21.8 billion, while imports increased $1.0 billion to $27.0 billion. The goods deficit with China increased from $19.4 billion in April to $20.0 billion in May. Exports increased $0.5 billion to $5.3 billion, while imports increased $1.1 billion to $25.3 billion. The goods deficit with Mexico increased from $5.2 billion in April to $5.9 billion in May. Exports increased $1.1 billion to $12.1 billion, while imports increased $1.7 billion to $17.9 billion. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the July 12 press release issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, U.S. International Trade in Goods and Services: May 2007. The next release is August 14, 2007. Contacts: Services: Ralph Stewart 202-606-2649 Goods: Vanessa Ware 301-763-2311 Bureau of Economic Analysis, U.S. Department of Commerce U.S. Census Bureau, U.S. Department of Commerce
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