The US trade deficit fell to $69 billion in May

2023-07-07

Data released by the United States Department of Commerce on the 6th showed that the country's trade deficit in goods and services fell to $69 billion in May due to the decline in the amount of goods imports. Compared to April, the US trade deficit in goods decreased by $4.8 billion to $91.3 billion in May; The service trade surplus increased by $700 million to $22.3 billion. Data shows that due to a decrease in the import value of consumer goods and industrial raw materials, the import value of goods decreased by $7.2 billion in May. Despite an increase in exports of automobiles and components, the export value of goods decreased by $2.5 billion in May due to a decrease in exports of food, feed and beverages, as well as industrial raw materials. In that month, the United States' trade deficits in goods with the European Union, Mexico, Vietnam, and Germany were $16.5 billion, $13.5 billion, $8.1 billion, and $6.9 billion, respectively. According to the data released on the same day, the U.S. Department of Commerce revised the trade deficit of goods and services in April from 74.6 billion dollars to 74.4 billion dollars. (New News Agency)

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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