View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
August 9, 2021

US trade deficit in goods hits all time high

The June increase reflects an increase in the goods deficit of $4bn to $93.2bn and a decrease in the services surplus.

By Michelle Russell

The US trade deficit in goods and services hit an all-time high in June, up 6.8% to US$75.7bn from $71.2bn in May, according to trade statistics released by the Department of Commerce.

Exports were $207.7bn – $1.2bn more than May exports – while imports were $283.4bn, $6bn more than those in May.

Year-to-date, the goods and services deficit increased $135,8bn, or 46.4%, from the same period in 2020. Exports grew $150.9bn or 14.3%, while imports increased $286.7bn or 21.3%.

The June increase in the goods and services deficit reflected an increase in the goods deficit of $4bn to $93.2bn and a decrease in the services surplus of $0.7bn to $17.4bn.

The largest deficit was recorded with China at $27bn, followed by the European Union at $19.6bn, and Mexico at $7.2bn. Deficits were also recorded with Germany ($6.3bn), Canada ($5.5bn), Japan ($4.9bn), Italy ($3.7bn), India ($3.5bn), Taiwan ($3.3bn), South Korea ($2.8bn), France ($1.9bn), and Saudi Arabia ($0.3bn).

Surpluses for the month of June meanwhile, were recorded with South and Central America ($4.5bn), Hong Kong ($1.7bn), Brazil ($1.5bn), and Singapore ($0.6bn).

Last month, the trade deficit in goods was up 3.1%, reflecting rises in both the goods deficit and services surplus of US$2.3bn and $0.1bn respectively.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Style