by Calculated Risk on 8/06/2013 08:56:00 AM
Tuesday, August 06, 2013
Trade Deficit decreased in June to $34.2 Billion
The Department of Commerce reported this morning:
[T]otal June exports of $191.2 billion and imports of $225.4 billion resulted in a goods and services deficit of $34.2 billion, down from $44.1 billion in May, revised. June exports were $4.1 billion more than May exports of $187.1 billion. June imports were $5.8 billion less than May imports of $231.2 billion.The trade deficit was lower than the consensus forecast of $43.0 billion.
The first graph shows the monthly U.S. exports and imports in dollars through June 2013.

Imports decreased in June, and exports increased.
Exports are 15% above the pre-recession peak and up 3% compared to June 2012; imports are 3% below the pre-recession peak, and down 1% compared to June 2012 (mostly moving sideways).
The second graph shows the U.S. trade deficit, with and without petroleum, through June.

Oil averaged $96.93 in June, up slightly from $96.84 in May, and down from $100.13 in June 2012.
The trade deficit with the euro area was $6.1 billion in June, down from $6.9 billion in June 2012.
The trade deficit with China decreased to $26.6 billion in June, down from $27.5 billion in June 2012. Most of the trade deficit is related to oil and China. And most of the recent improvement in the trade deficit is related to a decline in the volume of imported petroleum.