The US Census Bureau and the US Bureau of Economic Analysis announced today that the goods and services deficit was $65.5 billion in June, down $2.8 billion from $68.3 billion in May, revised.
June exports were $247.5 billion, $0.3 billion less than May exports. June imports were $313.0 billion, $3.1 billion less than May imports.
The June decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.8 billion to $88.2 billion and a decrease in the services surplus of less than $0.1 billion to $22.7 billion.
Year-to-date, the goods and services deficit decreased $117.7 billion, or 22.3 percent, from the same period in 2022. Exports increased $37.6 billion or 2.5 percent. Imports decreased $80.1 billion or 4.0 percent.
The June figures show surpluses, in billions of dollars, with Netherlands ($4.6), South and Central America ($4.3), Hong Kong ($2.6), Belgium ($1.6), Australia ($1.4), Brazil ($0.5), Singapore ($0.2), and Saudi Arabia ($0.1).
Deficits were recorded, in billions of dollars, with China ($22.8), European Union ($18.2), Mexico ($12.9), Vietnam ($8.6), Germany ($6.7), Ireland ($6.7), Japan ($6.1), South Korea ($5.4), Italy ($4.0), India ($3.8), Canada ($3.3), Taiwan ($3.3), Malaysia ($2.3), Switzerland ($1.5), France ($1.3), United Kingdom ($0.8), and Israel ($0.4)