by Calculated Risk on 8/02/2019 10:04:00 AM

From the Department of Commerce reported:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $55.2 billion in June, down $0.2 billion from $55.3 billion in May, revised.

June exports were $206.3 billion, $4.4 billion less than May exports. June imports were $261.5 billion, $4.6 billion less than May imports.

Click on graph for larger image.

Exports and imports decreased in June.

Exports are 25% above the pre-recession peak and down 2% compared to June 2018; imports are 13% above the pre-recession peak, and up 1% compared to June 2018.

In general, trade had been picking up, but both imports and exports have moved more sideways recently.

The second graph shows the U.S. trade deficit, with and without petroleum.

The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Oil imports averaged $59.18 per barrel in June, down from $60.56 in May, and down from $62.46 in June 2018.

The trade deficit with China decreased to $30.0 billion in June, from $33.8 billion in June 2018.