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US Trade Deficit Widens In May As Exports Tumble Most In 3 Months
The US trade deficit increased from $40.7 bn to $41.8bn, slightly lower than expected. Impoorts fell a mere 0.1% (despite a record amount of imported auto parts) but exports fell 0.8% (driven by a decline in Aircraft sales), nudging GDP expectations lower. The trade deficit with China rose notably and exports to Europe dropped.
- *MAY IMPORTS FALL 0.1% TO $230.5 BLN ON OIL, CAPITAL GOODS
- *U.S. MAY EXPORTS DECLINE 0.8% TO $188.6 BLN ON AIRCRAFT
- *U.S. IMPORTED A RECORD $29.5 BLN IN AUTOS, PARTS IN MAY
Exports
- Exports of goods and services decreased $1.5 billion, or 0.8 percent, in May to $188.6 billion.
- Exports of goods decreased $1.6 billion and exports of services increased $0.1 billion.
- The decrease in exports of goods mainly reflected a decrease in capital goods ($2.4 billion). An increase in industrial supplies and materials ($0.8 billion) was partly offsetting.
- The increase in exports of services mainly reflected an increase in other business services ($0.1 billion), which includes research and development services; professional and management services; and technical, trade-related and other services.
Imports
- Imports of goods and services decreased $0.3 billion, or 0.1 percent, in May to $230.5 billion.
- Imports of goods decreased $0.4 billion and imports of services increased $0.1 billion.
- The decrease in imports of goods mainly reflected decreases in capital goods ($0.8 billion) and in industrial supplies and materials ($0.6 billion). An increase in automotive vehicles, parts, and engines ($0.8 billion) was partly offsetting.
- The increase in imports of services mainly reflected an increase in transport ($0.1 billion), which includes freight and port services and passenger fares.
Goods by geographic area (seasonally adjusted, Census basis)
- The goods deficit with China increased from $27.5 billion in April to $30.6 billion in May. Exports decreased $0.7 billion to $9.6 billion and imports increased $2.4 billion to $40.2 billion.
- The goods deficit with the European Union increased from $11.9 billion in April to $13.4 billion in May. Exports decreased $1.0 billion to $22.6 billion and imports increased $0.4 billion to $36.0 billion.
- The goods surplus with South and Central America increased from $3.0 billion in April to $4.2 billion in May. Exports increased $0.8 billion to $13.7 billion and imports decreased $0.4 billion to $9.5 billion.
Charts: Bloomberg
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Trade is the only thing that really matters. What happened to that "oil exporting"...LOL! Is the world no longer interested in our financial "products" of mass destruction either? I am just shocked I tell you, LOL!!
When real goods and services stop crossing borders, troops will...
Trrops do nothing but destruction these days, so that is a non-solution. China will wake up and stop this folly. They have a better ability to do quick turnarounds. the US will have to just do without until it can get what it needs locally. It is not impossible and the reduction of lifestyle will not be below that of out survatude neighbor to the south..
"Do not unto others as you would not have done unto you" Guess at who said that.. Clue, Jesus knew him and he 'lived' over three time longer.
I think the importers have realized the burden of US inflation
Krugman says that there is no inflation, he has a Nobel, do you?
No. but I own dollars like krugman
Actually, I am sure that Kurgman, like myself, holds many currencies, in many locations...
God help me if the Cayman banks get "Cyprus'd"...
... yet the US dollar flows to UKraine ... to make sure its golden boy doesn't yet fail again ... >>> "US to Bankroll Saakashvili's Odessa Reforms" >>> http://russia-insider.com/en/politics/us-pay-odessa-governors-team-saakashvili/ri8546 ... CTRL-P more fiat dollars ...
so does oshithead. They are worthless.
Krugman also thought that in order to spur the economy, the government should fake an alien invasion.
Standard Disclaimer: My sarcasm detector is generally on the fritz until I've had at least one cup of coffee in the morning. Not so in your case.
Aaaand....therefore, it's HAMMER TIME!!
No suprise here. Baltic Dry Index has been falling for months.
Like most third world countries we primarily export agricultural products. But the demand for GMO'd hormoned-up food is declining worldwide. What's a Monsanto to do?
Dollars are worthless and real goods have real value. The strengthening of the dollar and increase of the trade deficit amounts to world wide theft.
Not worthless at all.China really likes those dollars,especially from the US.
But it was a beat, and we here at ZH don't care about the actual numbers - only whether it was a beat or miss.
Put up that Macro chart, Tyler!
As far as criminal enterprises go Vichy DC is the most murderous and corrupt. If you ever have the misfortune to shake one of these fucker's hand, count your fingers afterwards.
The Greeks are doing the world the biggest favor since the exporting of the concept of Democracy. Showing that exporters and nations that are knowing as to deficit trading, as accomplests to the fact and eventual failure. The Exporters are the criminals and can not expect payment in full.