The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.5 billion in May, up $11.3 billion from $60.3 billion in April, revised.
- U.S. International Trade in Goods and Services Deficit
- Exports, Imports, and Balance (exhibit 1)
- Three-Month Moving Averages (exhibit 2)
- Exports (exhibits 3, 6, and 7)
- Imports (exhibits 4, 6, and 8)
- Real Goods in 2017 Dollars – Census Basis (exhibit 11)
- Revisions: Revisions to April exports
- Revisions: Revisions to April imports
- Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)
“The U.S. trade deficit widened to $71.5B in May 2025 as exports declined while imports held steady. Explore key trends in goods and services trade.”
U.S. International Trade in Goods and Services Deficit
| Deficit: | $71.5 Billion | +18.7%° |
| Exports: | $279.0 Billion | –4.0%° |
| Imports: | $350.5 Billion | –0.1%° |
Next release: Tuesday, August 5, 2025
(°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, July 3, 2025
Exports, Imports, and Balance (exhibit 1)
May exports were $279.0 billion, $11.6 billion less than April exports. May imports were $350.5 billion, $0.3 billion less than April imports.
The May increase in the goods and services deficit reflected an increase in the goods deficit of $11.2 billion to $97.5 billion and a decrease in the services surplus of $0.1 billion to $26.0 billion.
Year-to-date, the goods and services deficit increased $175.0 billion, or 50.4 percent, from the same period in 2024. Exports increased $73.6 billion or 5.5 percent. Imports increased $248.7 billion or 14.8 percent.
Three-Month Moving Averages (exhibit 2)
The average goods and services deficit decreased $16.8 billion to $90.0 billion for the three months ending in May.
-
- Average exports increased $0.1 billion to $283.5 billion in May.
- Average imports decreased $16.7 billion to $373.6 billion in May.
Year-over-year, the average goods and services deficit increased $18.8 billion from the three months ending in May 2024.
-
- Average exports increased $17.9 billion from May 2024.
- Average imports increased $36.6 billion from May 2024.
Exports (exhibits 3, 6, and 7)
Exports of goods decreased $11.4 billion to $180.2 billion in May.
Exports of goods on a Census basis decreased $10.8 billion.
-
- Industrial supplies and materials decreased $10.0 billion.
- Nonmonetary gold decreased $5.5 billion.
- Natural gas decreased $1.1 billion.
- Finished metal shapes decreased $1.0 billion.
- Industrial supplies and materials decreased $10.0 billion.
-
- Capital goods decreased $1.9 billion.
- Semiconductors decreased $0.6 billion.
- Civilian aircraft engines decreased $0.5 billion.
- Telecommunications equipment decreased $0.4 billion.
- Computer accessories increased $0.8 billion.
- Capital goods decreased $1.9 billion.
-
- Consumer goods increased $1.5 billion.
- Pharmaceutical preparations increased $1.1 billion.
- Consumer goods increased $1.5 billion.
Net balance of payments adjustments decreased $0.6 billion.
Exports of services decreased $0.2 billion to $98.8 billion in May.
-
- Travel decreased $0.3 billion.
- Transport decreased $0.2 billion.
- Charges for the use of intellectual property increased $0.1 billion.
- Other business services increased $0.1 billion.
Imports (exhibits 4, 6, and 8)
Imports of goods decreased $0.2 billion to $277.7 billion in May.
Imports of goods on a Census basis decreased $0.3 billion.
-
- Consumer goods decreased $4.0 billion.
- Other textile apparel and household goods decreased $0.8 billion.
- Toys, games, and sporting goods decreased $0.7 billion.
- Pharmaceutical preparations increased $2.5 billion.
- Consumer goods decreased $4.0 billion.
-
- Industrial supplies and materials decreased $0.9 billion.
- Finished metal shapes decreased $1.7 billion.
- Nuclear fuel materials increased $0.6 billion.
- Industrial supplies and materials decreased $0.9 billion.
-
- Automotive vehicles, parts, and engines increased $3.4 billion.
- Passenger cars increased $3.1 billion.
- Automotive vehicles, parts, and engines increased $3.4 billion.
-
- Other goods increased $1.0 billion.
-
- Capital goods increased $0.3 billion.
- Computers increased $4.4 billion.
- Computer accessories decreased $2.8 billion.
- Capital goods increased $0.3 billion.
Net balance of payments adjustments increased $0.1 billion.
Imports of services decreased $0.1 billion to $72.8 billion in May.
-
- Transport decreased $0.4 billion.
- Travel decreased $0.2 billion.
- Other business services increased $0.1 billion.
- Maintenance and repair services increased $0.1 billion.
Real Goods in 2017 Dollars – Census Basis (exhibit 11)
The real goods deficit increased $8.1 billion, or 9.6 percent, to $92.5 billion in May, compared to a 12.3 percent increase in the nominal deficit.
-
- Real exports of goods decreased $8.2 billion, or 5.3 percent, to $148.3 billion, compared to a 5.7 percent decrease in nominal exports.
- Real imports of goods decreased $0.1 billion, or 0.1 percent, to $240.8 billion, compared to a 0.1 percent decrease in nominal imports.
Revisions: Revisions to April exports
-
- Exports of goods were revised up $1.1 billion.
- Exports of services were revised up $0.1 billion.
Revisions: Revisions to April imports
-
- Imports of goods were revised down less than $0.1 billion.
- Imports of services were revised down $0.2 billion.
Goods by Selected Countries and Areas: Monthly – Census Basis (exhibit 19)
The May figures show surpluses, in billions of dollars, with Netherlands ($4.8), Hong Kong ($3.6), South and Central America ($3.3), Switzerland ($3.3), United Kingdom ($3.0), Australia ($1.5), Brazil ($0.5), Saudi Arabia ($0.5), Belgium ($0.4), Singapore ($0.3), and Israel ($0.1). Deficits were recorded, in billions of dollars, with European Union ($22.5), Mexico ($17.1), Vietnam ($14.9), China ($14.0), Ireland ($11.8), Taiwan ($11.5), Germany ($6.8), Japan ($5.8), South Korea ($5.4), India ($5.1), Canada ($2.8), Italy ($2.6), Malaysia ($2.4), and France ($0.5).
-
- The deficit with Mexico increased $3.6 billion to $17.1 billion in May. Exports decreased $0.3 billion to $27.5 billion and imports increased $3.3 billion to $44.6 billion.
- The deficit with Ireland increased $2.4 billion to $11.8 billion in May. Exports increased $0.2 billion to $1.6 billion and imports increased $2.5 billion to $13.4 billion.
- The deficit with China decreased $5.7 billion to $14.0 billion in May. Exports decreased $1.7 billion to $6.9 billion and imports decreased $7.4 billion to $20.9 billion.
All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release. The full release can be found at www.census.gov/foreign-trade/Press-Release/current_press_release/index.html or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. The full schedule is available in the Census Bureau’s Economic Briefing Room at www.census.gov/economic-indicators/ or on BEA’s website at www.bea.gov/news/schedule.