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US goods, services trade deficit falls 6.6pc in May to US$43 billion
来源： 编辑：编辑部 发布：2018/07/13 08:54:37
THE United States' deficit in goods and services trade narrowed for the third consecutive month in May, dropping to its lowest level since October 2016.
The deficit in goods and services trade shrank by 6.6 per cent to US$43.1 billion in May as strong exports offset an increase in imports, according to figures compiled by the US Department of Commerce's Bureau of Economic Analysis.
The May figures followed revised declines of 18.2 per cent in March and 2.4 per cent in April that were preceded by six months in a row of growth, reported American Shipper.
US exports rose by 1.9 per cent in May to total $215.3 billion and imports were up 0.4 per cent to $258.4 billion.
The three-month moving average of the goods and services deficit fell 8.5 per cent to $45.4 billion for the three months ending in May, with average exports rising 1.5 per cent to $212.4 billion and average imports down 0.4 per cent to $257.9 billion, according to BEA.
On a year-on-year basis, however, the three-month average goods and services deficit is still up 0.4 per cent compared to the same period in 2017 since exports and imports have increased $19.9 billion (10.3 per cent) and $20.1 billion (8.5 per cent), respectively.
BEA said the US deficit with China rose by 3.9 per cent to $32 billion in May compared with the previous month. US deficits with the EU and Mexico fell 10.2 per cent to $11.9 billion and 3.4 per cent to $5.8 billion respectively, while the US-Canada deficit surged 24 per cent to $2.2 billion.
The deficit in goods and services trade shrank by 6.6 per cent to US$43.1 billion in May as strong exports offset an increase in imports, according to figures compiled by the US Department of Commerce's Bureau of Economic Analysis.
The May figures followed revised declines of 18.2 per cent in March and 2.4 per cent in April that were preceded by six months in a row of growth, reported American Shipper.
US exports rose by 1.9 per cent in May to total $215.3 billion and imports were up 0.4 per cent to $258.4 billion.
The three-month moving average of the goods and services deficit fell 8.5 per cent to $45.4 billion for the three months ending in May, with average exports rising 1.5 per cent to $212.4 billion and average imports down 0.4 per cent to $257.9 billion, according to BEA.
On a year-on-year basis, however, the three-month average goods and services deficit is still up 0.4 per cent compared to the same period in 2017 since exports and imports have increased $19.9 billion (10.3 per cent) and $20.1 billion (8.5 per cent), respectively.
BEA said the US deficit with China rose by 3.9 per cent to $32 billion in May compared with the previous month. US deficits with the EU and Mexico fell 10.2 per cent to $11.9 billion and 3.4 per cent to $5.8 billion respectively, while the US-Canada deficit surged 24 per cent to $2.2 billion.