WASHINGTON, DC – After spiking in March to historic levels, the U.S. goods and services trade deficit fell 6.2 percent in June to $79.6 billion, down $5.3 billion from $84.9 billion in May.
A surplus in trade (in billions of dollars) continues with South and Central America ($7.9), the Netherlands ($3.0), and Singapore ($1.8), while the deficits continue with China ($36.9), the European Union ($17.6), and Vietnam ($11.1).
Computers and petroleum products account for the largest share of growth in imports, while exports of nonmonetary gold ($1.8) and natural gas ($1.6) showed signs of strength.
The goods and services deficit year-to-date increased by $134.1 billion, or 33.4 percent, from the same period in 2021, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.
(SOURCE: All Ag News)