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Friday, July 2, 2021 Services: (301) 278-9003 Goods: (301) 763-2311 May 2021 Trade Gap is $71.2 Billion U.S. international trade in goods and services 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. Monthly Goods and Services Trade Deficit January 2012–May 2021 Billion $ 80 70 60 50 40 30 20 10 0 2012 2013 2014 U.S. Bureau of Economic Analysis U.S. Census Bureau 2015 2016 2017 2018 2019 2020 2021 Seasonally adjusted 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. BEA statistics—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the July 2 news release, U.S. International Trade in Goods and Services, May 2021, issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The next release is August 5, 2021.
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