The June numbers are in from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Just how much did the U.S. import and export for the month, – and how much of that action was yours?
Total exports for June 2014 totaled $195.9 billion. Imports, on the other hand, were $237.5 billion. The resulting goods and services deficit was $41.5 billion. Compared to May, exports were up $0.3 billion, and imports were down $2.9 billion; so the overall deficit dropped $3.2 billion.
The deficit increased $5.0 billion from June 2013 to June 2014. Exports were up 2.9 percent, and imports were up 4.6 percent over last year.
From May to June 2014, the import and export numbers for goods changed as follows:
- Increased Exports: consumer goods, automotive vehicles/parts/engines, industrial supplies/materials
- Decreased Exports: foods, feeds, beverages
- No Change in Exports: capital goods
- Increased Imports: foods, feeds, beverages
- Decreased Imports: consumer goods, automotive vehicles/parts/engines, industrial supplies/materials, capital goods
From May to June 2014, the import and export numbers for services changed as follows:
- Increased exports: travel (for all purposes including education)
- Decreased exports: transport (including freight and port services and passenger fares)
All other exports categorized remained mostly unchanged. Imports of services were, for the most part, unchanged.
Surpluses and Deficits Among Trade Partners
June numbers show surpluses with Hong Kong, Australia, Singapore, and Brazil. Deficits were recorded with China, European Union, Japan, Germany, Mexico, OPEC, Ireland, Canada, Saudi Arabia, South Korea, and India.
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