Updated: 03-Jul-25 09:52 ET
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Updated: 03-Jul-25 09:52 ET |
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Highlights
- The trade deficit widened to $71.5 billion in May (Briefing.com consensus: -$70.5 billion) from an upwardly revised $60.3 billion (from -$61.6 billion) in April.
- The widening was the result of exports being $11.6 billion less than April exports and imports being $0.3 billion less than April imports.
Key Factors
- Exports of industrial supplies and materials decreased by $10.0 billion, led by a $5.5 billion decrease in nonmonetary gold.
- Exports of capital goods decreased by $1.9 billion, with semiconductor exports down $0.6 billion.
- Exports of consumer goods increased by $1.5 billion, with pharmaceutical preparations increasing by $1.1 billion.
- Imports of consumer goods decreased by $4.0 billion.
- Imports of industrial supplies and materials decreased by $0.9 billion.
- Imports of automotive vehicles, parts, and engines increased by $3.4 billion.
- The real goods deficit increased by $8.1 billion to $92.5 billion in May.
Big Picture
- The key takeaway from the report is that it will factor in as a negative for the net exports contribution to Q2 GDP.
Category |
MAY |
APR |
MAR |
FEB |
JAN |
Trade Deficit |
-$71.5B |
-$60.3B |
-$138.3B |
-$122.0B |
-$130.3B |
Exports |
$279.0B |
$289.4B |
$281.1B |
$278.7B |
$272.4B |
Imports |
$350.5B |
$349.7B |
$419.4B |
$400.7B |
$402.7B |