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Friday, January 21, 2022
HomeNewsEconomyU.S. Trade Deficit Shrinks in May Amid Surge in Exports

U.S. Trade Deficit Shrinks in May Amid Surge in Exports

Cargo containers sit idle at the Port of Los Angeles as a back-log of over 30 container ships sit anchored outside the Port in Los Angeles, California, February 18, 2015. (Photo: Reuters)
Cargo containers sit idle at the Port of Los Angeles as a back-log of over 30 container ships sit anchored outside the Port in Los Angeles, California, February 18, 2015. (Photo: Reuters)

Cargo containers sit idle at the Port of Los Angeles as a back-log of over 30 container ships sit anchored outside the Port in Los Angeles, California, February 18, 2015. (Photo: Reuters)

The U.S. trade deficit shrunk to $64.8 billion in May, as a surge in exports sliced $2.5 billion off of the $67.3 billion in April. That’s far more narrow than the $68.8 billion expected in May, fueled by a surge in exports.

Exports of goods for May came in at $143.6 billion, a whopping $2.9 billion more than April exports. Imports of goods for May were $208.4 billion, only $0.4 billion more than April imports.

Wholesale inventories for May, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $633.2 billion, up 0.5% from April 2018 and 5.9% from May 2017. The March 2018 to April 2018 percentage change was unrevised from the preliminary estimate of up 0.1%.

Retail inventories for May, adjusted for seasonal variations but not for price changes, were estimated at an end-of-month level of $635.5 billion, up 0.4% from April 2018, and were up 2.3% from May 2017. The March 2018 to April 2018 percentage change was unrevised from the preliminary estimate of up 0.5%.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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