The US international trade deficit rose by 3.1% from a month earlier to reach $71.2 billion in May, the Commerce Department's Bureau of Economic Analysis (BEA) said on Friday
WASHINGTON (Pakistan Point News / Sputnik - 02nd July, 2021) The US international trade deficit rose by 3.1% from a month earlier to reach $71.2 billion in May, the Commerce Department's Bureau of Economic Analysis (BEA) said on Friday.
"The goods and services deficit was $71.2 billion in May," the BEA said in a statement. In April, the deficit was $69.1 billion.
The BEA said exports in May were at $206 billion, some $1.3 billion higher than in April, but that imports grew even more, by $3.4 billion, to $277.3 billion.
This rounds up the trade deficit to $2.2 billion, the BEA said.
Among international trading partners, the United States' largest deficit was with China, at $27.2 billion. On a monthly level though, the deficit with China shrank by $5.1 billion from April.
The European Union region accounted for the second largest US trade deficit in May, at $18.5 billion, while Canada came in third, at $4.8 billion.
