U.S. Goods Exports Rise, But So Does Trade Deficit

Export sales of U.S. capital goods were $800 million higher in May than in April -- as were sales of industrial supplies and materials. And exports of consumer goods were $500 million higher. However, the overall U.S. trade deficit rose to $63.8 billion in May from $63.3 billion in April as imports of goods and services from the rest of the world more than offset U.S. exports, the U.S. Commerce Department reported on July 12.

In May, the U.S. imported goods and services valued at $182.5 billion while exporting goods and services worth $118.7 billion. May imports were $3.2 billion or 1.8% higher than April imports worth $179.3 billion. May exports were $2.7 billion or 2.3% higher than April exports valued at $115.9 billion.

May's $63.8 billion trade deficit is the second largest monthly deficit of the year, topped only by $66.2 billion in January.

Once again, the largest single-country monthly trade deficit was with China. The deficit was $17.7 billion in May, up from $17.03 billion in May. The U.S. trade deficit with China for the first five months of this year was $82.07 billion.

The overall U.S. trade deficit with the rest of the world for the first five months of 2006 was $317.9 billion, some $36.2 billion more than the $281.7 billion deficit for the first five months of 2005.

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