The US trade deficit in goods narrowed to USD 91.1 billion in May 2023 from a revised USD 97.1 billion in the previous month, reflecting weakened global demand, according to an advance estimate. Imports declined by 2.7 percent, primarily driven by lower purchases of consumer goods (-7.3 percent), industrial supplies (-5.9 percent), and foods, feeds, & beverages (-3.0 percent). Meanwhile, exports dropped at a slower 0.6 percent, mainly due to reduced sales of foods, feeds, & beverages (-14.2 percent) and industrial supplies (-3.0 percent). However, there were some positive offsets with increased exports of vehicles (8.7 percent) and consumer goods (4.3 percent). source: U.S. Census Bureau
| Calendar | GMT | Reference | Actual | Previous | Consensus | TEForecast | |
|---|---|---|---|---|---|---|---|
| 2023-05-26 | 12:30 PM | Apr | $-96.8B | $-84.6B | $-85.7B | $-83.0B | |
| 2023-06-28 | 12:30 PM | May | $-91.13B | $-97.1B | $-91.0B | ||
| 2023-07-27 | 12:30 PM | Jun | $-91.13B | $ -92B | |||
| Related | Last | Previous | Unit | Reference |
|---|---|---|---|---|
| Exports | 249.02 | 258.19 | USD Billion | Apr 2023 |
| Imports | 323.57 | 318.78 | USD Billion | Apr 2023 |
| Goods Trade Balance | -91130.00 | -97095.10 | USD Million | May 2023 |
| Oil Exports | 9562.89 | 11627.32 | USD Million | Apr 2023 |
United States Goods Trade Balance
In the US, goods trade balance is equal to goods exports less goods imports.
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | ||
|---|---|---|---|---|---|---|---|---|
| -91130.00 | -97095.10 | 1492.20 | -121178.50 | 1955 – 2023 | USD Million | Monthly |
SA
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News Stream
US Goods Gap Narrows as Imports, Exports Fall
The US trade deficit in goods narrowed to USD 91.1 billion in May 2023 from a revised USD 97.1 billion in the previous month, reflecting weakened global demand, according to an advance estimate. Imports declined by 2.7 percent, primarily driven by lower purchases of consumer goods (-7.3 percent), in… more
2023-06-28
US Goods Trade Gap Widens More than Expected
The US trade deficit in goods widened to USD 96.8 billion in April of 2023 from the upwardly revised USD 84.6 billion in the previous month, compared to market expectations of a USD 85.7 billion gap, an advance estimate showed. Exports fell by 5.5% from the previous month to USD 163.3 billion, main… more
2023-05-26
US Goods Trade Gap Narrows More than Expected
The US trade deficit in goods narrowed to USD 84.6 billion in March of 2023 from the upwardly revised USD 92 billion in the previous month, compared to market expectations of a USD 89 billion gap. Exports grew by 2.9% from the previous month to USD 172.7 billion, supported by strong external demand … more
2023-04-26
Original Article: https://tradingeconomics.com/united-states/goods-trade-balance
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