Total May exports were $182.4 billion and imports were $223.5 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce. This resulted in a goods and services deficit of $41.1 billion, up $3.8 billion from April. May exports were down $0.3 billion from April, and May imports were up $3.4 billion.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $3.7 billion to $62.2 billion and a decrease in the services surplus of $0.1 billion to $21.1 billion.
Year-to-date, the goods and services deficit decreased $7.2 billion, or 3.5 percent, from the same period in 2015. Exports decreased $47.2 billion or 4.9 percent. Imports decreased $54.3 billion or 4.7 percent.
Exports of goods decreased $0.2 billion and exports of services decreased $0.1 billion. The decrease in exports of goods mostly reflected decreases in civilian aircraft ($0.4 billion) and computer accessories ($0.3 billion). The decrease in exports of services mainly reflected decreases in travel ($0.2 billion) and financial services ($0.1 billion).
Imports of goods increased $3.4 billion and imports of services were unchanged. The increase in imports of goods mostly reflected an increase in industrial supplies and materials ($2.3 billion) and consumer goods ($1.3 billion).
