The goods and services deficit was $77.6 billion in May, up $23.0 billion from $54.6 billion in April, as reported by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis on July 7.  

May exports were $317.7 billion, $10.5 billion less than April exports. May imports were $395.3 billion, $12.5 billion more than April imports.

The May increase in the goods and services deficit reflected an increase in the goods deficit of $23.6 billion to $106.5 billion and an increase in the services surplus of $0.6 billion to $28.9 billion.

Year-to-date, the goods and services deficit decreased $203.9 billion, or 40.6%, from the same period in 2025. Exports increased $164.7 billion or 11.7%. Imports decreased $39.2 billion or 2.1 %.

Three-Month Moving Averages 

The average goods and services deficit increased $7.5 billion to $62.9 billion for the three months ending in May.

• Average exports increased $2.0 billion to $321.5 billion in May.
• Average imports increased $9.5 billion to $384.5 billion in May.

Year-over-year, the average goods and services deficit decreased $23.8 billion from the three months ending in May 2025.

• Average exports increased $36.1 billion from May 2025.
• Average imports increased $12.4 billion from May 2025.

Exports

Exports of goods decreased $11.3 billion to $210.6 billion in May.

  Exports of goods on a Census basis decreased $11.6 billion.

• Industrial supplies and materials decreased $5.5 billion.
  • Nonmonetary gold decreased $6.2 billion.
  • Other precious metals decreased $1.3 billion.
  • Natural gas decreased $1.1 billion.
  • Crude oil increased $2.0 billion.
• Capital goods decreased $3.5 billion.
  • Computers decreased $2.1 billion.
  • Computer accessories decreased $2.0 billion.
• Consumer goods decreased $2.1 billion.
  • Pharmaceutical preparations decreased $0.9 billion.