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Market Update : 
Trade Deficit Narrows in May
Author: 123jump.com Staff
123jump.com
Last Update: 9:26 AM EDT July 11 2008


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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total May exports of $157.5 billion and imports of $217.3 billion resulted in a goods and services deficit of $59.8 billion, down from $60.5 billion in April, revised. May exports were $1.4 billion more than April exports of $156.2 billion.

 
Advanced technology products (ATP) exports were $24.1 billion in May and imports were $27.6 billion, resulting in a deficit of $3.5 billion. May exports were $0.7 billion more than the $23.4 billion in April, while imports were $1.1 billion less than the $28.7 billion in April.

Revisions

Goods carry-over in May was $0.7 billion (0.6 percent) for exports and $1.5 billion (0.8 percent) for imports. For April, revised export carry-over was $0.2 billion (0.2 percent), revised down from $0.4 billion (0.3 percent). For April, revised import carry-over was $0.2 billion (0.1 percent), revised down from $0.8 billion (0.5 percent).

Services exports for April were revised up $0.1 billion to $46.1 billion. The revision was mostly accounted for by upward revisions in other transportation and passenger fares. Services imports for April were revised down $0.3 billion to $33.6 billion. The revision was more than accounted for by downward revisions in travel and passenger fares.

Available at:


http://www.bea.gov/newsreleases/international/trade/tradnewsrelease.htm
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