The U.S. Trade gap continued to narrow in May, as exports continue grow faster than imports.
In May the U.S. Commerce Department announced that, nations trade gap dropped by -6.8 %. The growing sales of goods and services abroad, declining trade deficit will add to the GDP growth, but the decrease in consumption of energy-related petroleum products, suggest that the economy could be slowing, economists said.

International Trade (Picture Autor: Maurice Marcellin) licence Creative Commons

Imports from China, meanwhile, climbed to $43.8 billion in May from $38.2 billion in April. The trade deficit with the rising Asian giant increased $5.23 billion to $-33.2 billion in May. Country data are not seasonally adjusted.

Lawmakers and some business executives say China keeps its currency artifically low to boosts its exports.
• Imports of Crude Oil

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Industrial Supplies		Consumer Goods		Military sales		Private Services
-0.10%	-2.82%	-0.91%	3.36%	1.09%	0.51%	0.56%	0.73%
*Imports*	Exports	Imports	Exports	Imports	Exports	Imports	Exports

Imports increased by 0.36 % in May to $258.4 billion, reported by the Commerce Department, demonstrating the trend of strong business investment imports of Capital goods, except automotive grew and Transfers Under U.S. Military Sales Contracts. Imports of Weapons increased also, up 12.90 % to $0.07 billions. Bucking the overall trend, imports of miscellaneous other goods and Other Transportation services contracted by -1.88 %. U.S. Imports of Advanced Materials also declined, by -19.09 % to $0.20 billions.

Some of the pick-up in imports could be attributed to higher prices. Unfavorable exchange rate, tends to boost the cost of imported goods.

The bulk of the increase in imports was tied to the higher cost of oil, whose price hit a recent peak. The cost per barrel was 29.62 % higher compared with a year earlier.
As a result, imports of crude oil and related petroleum products jumped to a seasonally adjusted $18.9 billion in May from $17 billion in April. Imports of services have declined by -0.47 %, but they accounted only for 18.5 %, of total imports in May. Purcheses of foreign made goods, grew by 0.55 %. • U.S. Exports by Major Category

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Imports from europe increased, as demand for goods from Russia grew the most, up 42.45 % to $2 billions, but imports of oil from Norway fell. Pacific Rim Region has seen increasing demand from the U.S., led by 18.68 % growth in imports of goods from Other Pacific Rim, while the demand for goods from Hong Kong fell. Imports from Canada and Mexico grew in May boosted by the higher price of oil. Declining petroleum consumption in the U.S., has resulted in lower imports from OPEC (Organization of the Petroleum Exporting Countries), such as Saudi Arabia and Venezuela. U.S. trade gap dropped by -7.4 % from May 2017, due to 12.13 % increase in exports. Exports increased in May by 1.93 %, reported by the Commerce Department, led by 16.74 % growth in miscellaneous other goods and Passenger Fares. Exports of Weapons increased also, up 309.61 % to $0.94 billions. But exports of Industrial supplies, materials fell the most, down -2.82 %. Exports of Nuclear Technology also fell -60.94 % to $0.05 billions. U.S. exports are rising because of faster growth in emerging markets and the favorable foreign-exchange markets, economists add. U.S. Exports of services increased by 0.63 %, services accounted for 0.63 % of total exports, sales of U.S. made products, grew by 2.58 %. Sales of U.S. made goods, improved in the Pacific Rim Region, led by 18.68 % growth in exports of goods to Other Pacific Rim and despite the decrease in demand for U.S. made goods, from Hong Kong. Exports to South and Central American region, including Brazil increased, while sales to Colombia contracted. Exports to europe improved, as sales of U.S. made products to Austria grew the most, up 114.49 %, but exports to Russia fell. • U.S. Imports by Major Countries
Exports by Selected Geographical Region You need to upgrade your Flash Player
Technology Group Exports	Technology Group Imports	Technology Group Trade Balance
Total Technology Group exports increased by $3,742 millions or 13.14 % to $32,215 millions from April 2018 , caused by increase in exports of Aerospace goods by 30.91 % to $12,728 millions from April 2018. Exports of Information and Communication goods fell by $3,742 millions or -3.54 % to $7,531 millions.	Total Technology Group imports deacreased by $726 millions or -1.91 % to $37,240 millions from April 2018 , despite a decrease in imports of Electronics goods by -5.04 % to $3,163 millions from April 2018. Imports of Information and Communication goods rose by $726 millions or 4.14 % to $20,951 millions. • Imports by Technology Group	Total Technology Group trade deficit rose by $803 millions or 8.44 % to $10,321 millions from deficit of $9,518 millions April 2018. Information and Communications trade deficit rose by $2,286 millions or 17.84 % to $15,098 millions from deficit of $12,812 millions April 2018. • Trade Balance by Technology Group

U.S. International Trade in Goods & Services

(In millions $)

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U.S. International Trade in Goods & Services (In millions $)	May 2018	April 2018	March 2018	Feb. 2018	Jan. 2018	Dec. 2017
Total Trade Balance	-43,053	-46,199	-48,956	-57,591	-56,601	-53,118
Trade Balance of Goods	-65,787	-68,265	-69,494	-77,011	-76,490	-73,348
Trade Balance of Services	22,735	22,066	20,539	19,419	19,890	20,231
Total Exports	215,328	211,245	208,526	204,445	200,910	203,351
Exports of Goods	144,888	141,248	140,878	137,179	134,245	137,470
Exports of Services	70,440	69,998	67,648	67,266	66,664	65,882
Total Imports	258,381	257,444	257,482	262,037	257,510	256,469
Imports of Goods	210,675	209,513	210,372	214,190	210,735	210,818
Imports of Services	47,706	47,931	47,110	47,847	46,775	45,651

U.S. Trade Balance by Selected Countries and Areas

( In millions $)

U.S. Trade Balance by Selected Countries and Areas ( In millions $)	May 2018	April 2018	March 2018	Feb. 2018	Jan. 2018	Dec. 2017
Total Goods	-73,099	-68,482	-60,359	-60,679	-79,425	-64,882
North America	-8,215	-6,437	-7,747	-6,449	-7,772	-7,576
Canada	-1,501	-785	306	-386	-3,636	-2,203
Mexico	-6,715	-5,652	-8,053	-6,063	-4,136	-5,373
Europe	-16,276	-17,826	-14,602	-13,581	-15,994	-17,280
European Union	-13,387	-14,642	-12,146	-12,047	-13,617	-15,813
Austria	-630	-866	-1,002	-597	-602	-729
Belgium	1,135	1,424	1,404	1,277	1,086	1,073
Czech Republic	-78	-174	-168	-170	-149	-197
Finland	-431	-464	-565	-435	-446	-434
France	-1,278	-1,627	-1,586	-1,251	-1,234	-1,781
Germany	-5,717	-5,994	-5,170	-5,351	-5,386	-5,823
Hungary	-300	-257	-293	-242	-270	-303
Ireland	-3,281	-3,972	-4,023	-3,651	-3,514	-3,727
Italy	-2,829	-2,538	-2,251	-2,384	-2,647	-3,480
Netherlands	2,177	2,060	2,349	2,284	2,050	1,810
Poland	-30	-325	30	-212	-316	-161
Spain	-369	-654	-359	-426	-493	-592
Sweden	-802	-709	-762	-501	-577	-646
United Kingdom	651	757	1,598	656	231	159
Other E.U.	-1,605	-1,306	-1,348	-1,045	-1,350	-980
Norway	72	-328	-365	102	96	-113
Russia	-1,404	-723	-1,217	-693	-1,121	-796
Switzerland	-1,659	-2,332	-1,108	-1,168	-1,115	-1,206
Other Europe	101	199	235	225	-238	648
Euro Area	-12,035	-13,284	-11,834	-10,926	-11,844	-14,224
Pacific Rim Countries	-41,795	-36,940	-32,636	-34,838	-44,577	-36,619
Australia	1,276	1,273	1,268	1,354	1,091	1,403
China	-33,187	-27,962	-25,875	-29,262	-35,953	-30,808
Japan	-5,492	-6,285	-6,386	-5,503	-5,652	-5,527
Malaysia	-2,588	-2,293	-2,038	-2,124	-1,937	-2,255
Philippines	-271	-252	-330	-289	-332	75
Newly Industrialized Countries (NICS)	-9,191	-7,938	-7,208	-6,578	-8,799	-6,857
Hong Kong	2,274	1,855	3,241	3,583	2,408	2,768
Korea	-1,803	-1,617	-1,080	-683	-1,968	-1,249
Singapore	777	594	603	597	757	1,153
Taiwan	-1,536	-1,116	-1,033	-1,312	-1,691	-1,207
Other Pacific Rim	-42	32	-11	-48	-62	18
South/Central America	3,668	3,998	3,551	3,055	1,423	4,067
Argentina	504	412	339	275	451	406
Brazil	892	626	942	971	223	1,074
Chile	514	176	-70	-75	-169	388
Colombia	-92	322	44	-300	-437	-88
Other South/Central America	1,850	2,461	2,296	2,185	1,355	2,286
OPEC	-701	-3,243	-768	-1,367	-2,865	211
Indonesia	-1,203	-1,167	-994	-1,151	-1,238	-990
Nigeria	-341	-437	-71	-489	-598	-290
Saudi Arabia	-167	-958	-51	-280	-683	-249
Venezuela	-463	-765	-406	-292	-496	-390
Other OPEC	270	-1,083	-239	-307	-1,087	1,140
Africa	-923	-1,345	-652	-896	-1,554	-1,032
Algeria	-232	-365	-177	-279	-402	-210
Egypt	338	225	274	278	251	254
South Africa	-261	-209	-194	-172	-236	-336
Other Africa	-767	-997	-556	-724	-1,166	-740
Other Countries	-9,191	-7,938	-7,208	-6,578	-8,799	-6,857
India	-2,452	-2,383	-1,443	-1,677	-2,208	-1,265
Thailand	-1,743	-1,691	-1,559	-1,328	-1,615	-1,865
Other	-4,997	-3,864	-4,206	-3,572	-4,976	-3,727

U.S. Imports by Major Category

( In millions $)

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Imports by Major Category ( In millions $)	May 2018	April 2018	March 2018	Feb. 2018	Jan. 2018	Dec. 2017
Total	258,381	257,444	257,482	262,037	257,510	256,469
Total Services	47,706	47,931	47,110	47,847	46,775	45,651
Travel	665	669	665	651	648	740
Passenger Fares	8,834	8,948	8,875	8,957	8,843	8,473
Other Transportation	11,720	11,944	11,487	11,268	11,518	11,731
Royalties and License Fees	3,941	3,969	4,342	4,323	4,305	4,148
Other Private Services	2,700	2,685	2,497	2,521	2,456	2,409
Transfers Under U.S. Military Sales Contracts	4,988	4,934	4,286	5,235	4,247	4,377
U.S. Government Misc. Services	3,557	3,539	3,547	3,535	3,512	3,412
Total Goods	210,675	209,513	210,372	214,190	210,735	210,818
Foods, feeds, and beverages	12,378	12,274	12,227	12,643	11,871	11,892
Industrial supplies and materials	47,853	47,901	47,330	48,091	47,275	45,308
Capital goods, except automotive	58,980	56,916	56,215	57,782	55,930	57,247
Automotive vehicles, parts, and engines	29,728	30,003	31,301	31,088	30,913	30,916
Consumer goods	51,423	51,895	54,216	55,122	54,601	55,495
Other goods	8,560	8,972	7,566	7,822	8,343	8,405

Exports by Technology Group

( In millions $)

Exports by Technology Group ( In millions $)	May 2018	April 2018	March 2018	Feb. 2018	Jan. 2018	Dec. 2017
Total Technology Group	32,215	28,473	34,853	26,019	27,457	33,529
Advanced Materials	252	243	259	217	228	225
Aerospace	12,728	9,723	14,021	9,115	8,982	13,136
Biotechnology	2,175	1,619	2,090	1,441	1,957	1,351
Electronics	3,872	3,777	4,010	3,417	3,950	3,884
Flexible Manufacturing	1,734	2,014	2,252	1,642	1,686	2,306
Information and Communications	7,531	7,807	8,443	7,149	7,677	8,841
Life Science	2,471	2,491	2,921	2,371	2,297	2,775
Nuclear Technology	50	128	84	40	43	100
Opto-Electronics	462	443	524	428	346	455
Weapons	938	229	251	199	291	455

Annual Report on U.S. International Trade in Goods & Services

(In millions $)

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U.S. International Trade in Goods & Services (In millions $)	2017	2016	2015	2014	2013	2012
Total Trade Balance	-566,031	-504,793	-531,503	-471,532	-471,532	-540,362
Trade Balance of Goods	-810,023	-752,507	-758,934	-703,159	-703,159	-735,702
Trade Balance of Services	243,993	247,714	227,431	231,627	231,627	195,341
Total Exports	2,329,311	2,208,072	2,230,317	2,272,320	2,272,320	2,195,925
Exports of Goods	1,551,434	1,455,704	1,513,888	1,590,350	1,590,350	1,563,578
Exports of Services	777,877	752,368	716,429	681,970	681,970	632,346
Total Imports	2,895,342	2,712,866	2,761,820	2,743,851	2,743,851	2,736,286
Imports of Goods	2,361,458	2,208,211	2,272,821	2,293,508	2,293,508	2,299,281
Imports of Services	533,884	504,654	488,999	450,343	450,343	437,005

• Source U.S. Department of Commerce, BEA.gov
Picture Autor: (Maurice Marcellin) licence Creative Commons.

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