June exports were worth $265.9 billion—$3.9 billion more than the May figure, and imports in the month were worth $339 billion—$2 billion more than in the preceding month.

Year to date, the goods and services deficit increased by $22.7 billion, or 5.6 per cent, year on year (YoY). Exports increased by $58.0 billion, or 3.8 per cent YoY, while imports increased by $80.7 billion, or 4.2 per cent YoY.

The average goods and services deficit increased $1.5 billion to $74.2 billion for the three months ending in June, a BEA release said.

The real goods deficit decreased by $2.5 billion, or 2.6 per cent, to $91.4 billion in June, compared to a 2.5-per cent decrease in the nominal deficit.

Real exports of goods increased by $4.6 billion, or 3.2 per cent, to $146.2 billion in June, compared to a 2.7-per cent increase in nominal exports.

Real imports of goods increased by $2.1 billion, or 0.9 per cent in the month to $237.6 billion, compared to a 0.8-per cent increase in nominal imports.

The June figures show surpluses with Netherlands ($4.8 billion), South and Central America ($3.6 billion), Hong Kong ($2.1 billion), Australia ($1.9 billion), the United Kingdom ($0.9 billion), Brazil ($0.8 billion), Belgium ($0.7 billion) and Saudi Arabia ($0.1 billion).

Deficits were recorded with China ($22.3 billion), the European Union ($18 billion), Mexico ($13.7 billion), Vietnam ($10.9 billion), Germany ($7.4 billion), Taiwan ($6.4 billion), Ireland ($5.8 billion), South Korea ($5.7 billion), Japan ($4.9 billion), Canada ($4.6 billion), India ($3.7 billion), Italy ($3.1 billion), Switzerland ($2.9 billion), Malaysia ($1.8 billion), France ($1.3 billion), Israel ($0.9 billion) and Singapore ($0.4 billion).

Fibre2Fashion News Desk (DS)