Briefing.com: Trade Balance

Updated: 03-Jul-25 09:52 ET

May Trade Balance

Updated: 03-Jul-25 09:52 ET

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.