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U.S. International Trade in Goods and Services
May 2014 Highlights for Congress


U.S. Census Bureau and U.S. Bureau of Economic Analysis - Economics and Statistics Administration - U.S. Department of Commerce

Click here for the downloadable version of the Congressional Highlights (PDF)

Goods and Services Deficit Decreased in May 2014
(Seasonally Adjusted)

The Nation’s international trade deficit in goods and services decreased to $44.4 billion in May from $47.0 billion in April (revised), as exports increased and imports decreased.

GOODS AND SERVICES

  • Exports increased to $195.5 billion in May from $193.5 billion in April. Goods were $136.7 billion in May, up from $135.0 billion in April. Services were $58.8 billion in May, up from $58.5 billion in April.

  • Imports decreased to $239.8 billion in May from $240.5 billion in April. Goods were $200.0 billion in May, down from $200.7 billion in April. Services were $39.9 billion in May, up from $39.8 billion in April.

  • For goods, the deficit was $63.3 billion in May, down from $65.7 billion in April. For services, the surplus was $18.9 billion in May, up from $18.6 billion in April.

Trade in Goods and Services (Billions of Dollars)

Trade in Goods and Services (Billions of Dollars)

GOODS BY CATEGORY (CENSUS BASIS)

The April to May increase in exports of goods reflected increases in automotive vehicles, parts, and engines ($0.8 billion); other goods ($0.5 billion); consumer goods ($0.4 billion); industrial supplies and materials ($0.2 billion); and foods, feeds, and beverages ($0.1 billion). A decrease occurred in capital goods ($0.2 billion).
Top Increases for Exports of Automotive Vehicles, Parts, and Engines
(Billions of Dollars)Top Increases for Exports of Automotive Vehicles, Parts, and Engines (Billions of Dollars)
The April to May decrease in imports of goods reflected decreases in industrial supplies and materials ($1.7 billion); other goods ($0.7 billion); consumer goods ($0.5 billion); and foods, feeds, and beverages ($0.2 billion). Increases occurred in automotive vehicles, parts, and engines ($1.3 billion) and capital goods ($1.0 billion).
Top Decreases for Imports of Industrial Supplies and Materials
(Billions of Dollars)Top Decreases for Imports of Industrial Supplies and Materials(Billions of Dollars)

SERVICES BY CATEGORY

Exports of services increased $0.3 billion from April to May. The increase was mostly accounted for by increases in travel (for all purposes including education) ($0.2 billion) and in transport ($0.1 billion), which includes freight and port services and passenger fares. Changes in the other categories of services exports were relatively small.

Imports of services were virtually unchanged from April to May. Changes in all categories of services imports were small and mostly offsetting.


GOODS BY GEOGRAPHIC AREA
(Billions of Dollars, Not Seasonally Adjusted)

European Union

European Union

The goods deficit with the European Union decreased from $14.0 billion in April to $12.3 billion in May. Exports increased $0.9 billion (primarily civilian aircraft, engines, equipment, and parts) to $24.3 billion, while imports decreased $0.8 billion (primarily passenger cars and artwork, antiques, stamps, etc.) to $36.6 billion.

Canada

China

The goods deficit with Canada increased from $2.7 billion in April to $2.8 billion in May. Exports increased $0.9 billion (primarily civilian aircraft, engines, equipment, and parts and automotive parts and accessories) to $27.4 billion, while imports increased $1.0 billion (primarily passenger cars and petroleum products) to $30.2 billion.

Mexico

Mexico

The goods deficit with Mexico decreased from $4.6 billion in April to $4.3 billion in May. Exports increased $1.1 billion (primarily petroleum products and automotive parts and accessories) to $21.0 billion, while imports increased $0.8 billion (primarily automobiles) to $25.3 billion.


EXPORTS OF GOODS BY STATE
(Origin of Movement)

Top April to May Increases
(Millions of Dollars, Not Seasonally Adjusted)
State April Total May Total Change
Texas $24,309.4 $25,151.7 $842.3
New York
6,304.4 7,062.8 758.4
Florida 4,660.1 5,362.1 702.0
Washington 6,981.8 7,505.3 523.5
Michigan 4,844.1 5,232.8 388.7

Top April to May Decreases
(Millions of Dollars, Not Seasonally Adjusted)
State April Total May Total Change
Louisiana $5,238.7 $4,827.9 -$410.8
Georgia 3,559.3 3,225.7 -333.6
Utah 1,075.3 881.9 -193.4
Virginia 1,585.5 1,529.0 -56.5
Idaho 521.6 466.3 -55.3

Trade in Petroleum Products, Jan 2011-May 2014

(Billions of Dollars, Seasonally Adjusted)
Source: U.S. International Trade in Goods and Services (FT-900), Exhibit 9 and 2013 Annual Revision FT-900, Exhibit 8

Trade in Petroleum Products, Jan 2011-May 2014

This space is used to present information on events that significantly impact trade, to highlight new or annual statistics or record levels of trade, or to report on trade in automotive or petroleum products, in manufactured goods, or with Free Trade Agreement partners.



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Source: U.S. Census Bureau | Foreign Trade | ftdwebmaster@census.gov |  Last Revised: July 03, 2014