Trade Deficit Falls on Dropping Imports; Deficit with China Widens Yet Again
The U.S. goods and services deficit was $48.7 billion in May 2012, down $1.9 billion from revised April 2012, according to the U.S. International Trade in Goods and Services Report, released on July 11 by the Census Bureau and the…
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Bureau of Economic Analysis. The report showed that, as compared to April 2012 levels, exports were up $0.4 billion to $183.1 billion, and imports were down $1.6 billion to $231.8 billion. As compared to May 2011 totals, exports increased by 4.2% and imports by 3.8%. The U.S. trade deficit with China increased to $26 billion in April 2012, from $24.6 billion in April. Statement by Acting Commerce Secretary Blank available here. International Trade Administration fact sheet available here.