The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $77.6 billion in May, up $23.0 billion from $54.6 billion in April, revised.
| Deficit: | $77.6 Billion | +42.2%° |
| Exports: | $317.7 Billion | –3.2%° |
| Imports: | $395.3 Billion | +3.3%° |
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Next release: Tuesday, August 4, 2026 (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, July 7, 2026 |
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Exports, Imports, and Balance (exhibit 1)
May exports were $317.7 billion, $10.5 billion less than April exports. May imports were $395.3 billion, $12.5 billion more than April imports.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $23.6 billion to $106.5 billion and an increase in the services surplus of $0.6 billion to $28.9 billion.
Year-to-date, the goods and services deficit decreased $203.9 billion, or 40.6 percent, from the same period in 2025. Exports increased $164.7 billion or 11.7 percent. Imports decreased $39.2 billion or 2.1 percent.
Three-Month Moving Averages (exhibit 2)
The average goods and services deficit increased $7.5 billion to $62.9 billion for the three months ending in May.
- Average exports increased $2.0 billion to $321.5 billion in May.
- Average imports increased $9.5 billion to $384.5 billion in May.
Year-over-year, the average goods and services deficit decreased $23.8 billion from the three months ending in May 2025.
- Average exports increased $36.1 billion from May 2025.
- Average imports increased $12.4 billion from May 2025.
Exports (exhibits 3, 6, and 7)
Exports of goods decreased $11.3 billion to $210.6 billion in May.
Exports of goods on a Census basis decreased $11.6 billion.
- Industrial supplies and materials decreased $5.5 billion.
- Nonmonetary gold decreased $6.2 billion.
- Other precious metals decreased $1.3 billion.
- Natural gas decreased $1.1 billion.
- Crude oil increased $2.0 billion.
- Capital goods decreased $3.5 billion.
- Computers decreased $2.1 billion.
- Computer accessories decreased $2.0 billion.
- Consumer goods decreased $2.1 billion.
- Pharmaceutical preparations decreased $0.9 billion.
Net balance of payments adjustments increased $0.3 billion.
Exports of services increased $0.8 billion to $107.1 billion in May.
- Travel increased $0.4 billion.
- Other business services increased $0.1 billion.
- Transport increased $0.1 billion.
- Financial services increased $0.1 billion.
Imports (exhibits 4, 6, and 8)
Imports of goods increased $12.3 billion to $317.0 billion in May.
Imports of goods on a Census basis increased $12.1 billion.
- Consumer goods increased $3.5 billion.
- Pharmaceutical preparations increased $1.9 billion.
- Cell phones and other household goods increased $1.0 billion.
- Industrial supplies and materials increased $3.1 billion.
- Crude oil increased $1.5 billion.
- Automotive vehicles, parts, and engines increased $2.2 billion.
- Passenger cars increased $1.0 billion.
- Other goods increased $1.4 billion.
- Capital goods increased $1.1 billion.
- Computer accessories increased $1.2 billion.
- Semiconductors increased $1.0 billion.
- Computers decreased $3.4 billion.
Net balance of payments adjustments increased $0.2 billion.
Imports of services increased $0.2 billion to $78.2 billion in May.
- Insurance services increased $0.2 billion.
Real Goods in 2017 Dollars – Census Basis (exhibit 11)
The real goods deficit increased $15.8 billion, or 18.7 percent, to $100.0 billion in May, compared to a 28.8 percent increase in the nominal deficit.
- Real exports of goods decreased $11.0 billion, or 6.6 percent, to $154.3 billion, compared to a 5.3 percent decrease in nominal exports.
- Real imports of goods increased $4.8 billion, or 1.9 percent, to $254.3 billion, compared to a 4.0 percent increase in nominal imports.
Revisions
Revisions to April exports
- Exports of goods were revised up $0.6 billion.
- Exports of services were revised up $0.5 billion.
Revisions to April imports
- Imports of goods were revised down $0.2 billion.
- Imports of services were revised down less than $0.1 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)
The May figures show surpluses, in billions of dollars, with Netherlands ($9.1), Hong Kong ($5.6), South and Central America ($4.8), Australia ($1.9), United Kingdom ($1.4), Brazil ($1.1), Singapore ($0.9), Belgium ($0.7), and Saudi Arabia ($0.3). Deficits were recorded, in billions of dollars, with Vietnam ($20.6), Mexico ($20.1), Taiwan ($19.4), China ($14.5), European Union ($9.3), Canada ($7.0), Germany ($5.7), Malaysia ($4.7), South Korea ($4.4), India ($4.1), Ireland ($4.0), Italy ($2.9), Switzerland ($2.3), Japan ($2.0), France ($1.5), and Israel ($0.4).
- The balance with Switzerland shifted from a surplus of $4.4 billion in April to a deficit of $2.3 billion in May. Exports decreased $6.9 billion to $2.0 billion and imports decreased $0.1 billion to $4.3 billion.
- The deficit with Mexico increased $5.3 billion to $20.1 billion in May. Exports decreased $1.5 billion to $33.4 billion and imports increased $3.9 billion to $53.5 billion.
- The deficit with France decreased $0.9 billion to $1.5 billion in May. Exports decreased less than $0.1 billion to $3.9 billion and imports decreased $0.9 billion to $5.4 billion.
All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.
Next release: August 4, 2026
U.S. International Trade in Goods and Services, June 2026
