Trade deficit decreases, as automotive imports increase by $1 billion

Manufacturing News, Source : TheManufacturer.com
Published : 13 Jul 2005 19:15

The US Census Bureau and the US Bureau of Economic Analysis announced today that total May exports of $106.9 billion and imports of $162.2 billion resulted in a goods and services deficit of $55.3 billion, which is down $1.6 billion less than the previous month.

Exports of goods decreased $0.1 billion to $74.5 billion, and imports of goods decreased $1.6 billion to $135.3 billion.

The April to May change in exports of goods reflected increases in foods, feeds, and beverages ($0.6 billion); consumer goods ($0.4 billion); and industrial supplies and materials ($0.2 billion). Decreases occurred in capital goods ($0.9 billion); automotive vehicles, parts, and engines ($0.2 billion); and other goods ($0.1 billion).

The April to May change in imports of goods reflected decreases in industrial supplies and materials ($2.4 billion); capital goods ($0.6 billion); and other goods ($0.1 billion). Increases occurred in automotive vehicles, parts, and engines ($1 billion); consumer goods ($0.2 billion); and foods, feeds, and beverages ($0.1 billion).

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