On Surge in Imports of Industrial Supplies and Materials, Commenter/Blogger RJS at MarketWatch 666 US trade deficit was at a record high in June after rising by 6.7% from May, as the value of both our exports and our imports increased, but our imports increased by nearly five times as much . . . the Commerce Department report on our international trade in goods and services for June indicated that our seasonally adjusted goods and services trade deficit rose by a rounded .8 billion to a record .7 billion in June from a revised May deficit of .0 billion, which had previously been reported at .2 billion . . . the value of our June exports rose by .2 billion to 7.7 billion on a %excerpt%.3 billion increase to 5.9 billion in our
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on Surge in Imports of Industrial Supplies and Materials, Commenter/Blogger RJS at MarketWatch 666
US trade deficit was at a record high in June after rising by 6.7% from May, as the value of both our exports and our imports increased, but our imports increased by nearly five times as much . . . the Commerce Department report on our international trade in goods and services for June indicated that our seasonally adjusted goods and services trade deficit rose by a rounded $4.8 billion to a record $75.7 billion in June from a revised May deficit of $71.0 billion, which had previously been reported at $71.2 billion . . . the value of our June exports rose by $1.2 billion to $207.7 billion on a $0.3 billion increase to $145.9 billion in our exports of goods and a $0.9 billion increase to $61.8 billion in our exports of services, while our imports rose by $6.0 billion to $283.4 billion on a $4.3 billion increase to $239.1 billion in our imports of goods and a $1.6 billion increase to $44.3 billion in our imports of services . . . export prices were on average 1.2% higher in June, so the increase in the month’s real exports would be relatively less than their nominal change by that percentage, while import prices were 1.0% higher, meaning that the increase in our real imports was likewise relatively smaller than the nominal increase by that percentage..
June’s exports of goods increased even as our higher exports of industrial supplies and materials was more than offset by lower exports of foods, feeds and beverages . . . referencing the Full Release and Tables for June (pdf), in Exhibit 7 we find that our exports of industrial supplies and materials rose by $1,177 million to $53,506 million as an increase of $1,643 in our exports of our exports of crude oil, a $570 million increase in our exports of fuel oil, and a $487 million increase in our exports of natural gas were partly offset by a $598 million decrease in our exports of non monetary gold and a $461 million decrease in our exports of precious metals other than gold . . . in addition, our exports of automotive vehicles, parts, and engines rose by $195 million to $11,564 million on a $343 million increase in our exports of new and used passenger cars, our exports of consumer goods rose by $46 million to $18,004 million as a $871 increase in our exports of pharmaceutical preparations was partly offset by a $465 million decrease in our exports of gem diamonds, and our exports of other goods not categorized by end use rose by $124 million to $5,729 million . . . mostly offsetting the increases in those export categories, our exports of foods, feeds and beverages fell by $1,222 million to $12,780 million on a $485 million decrease in our exports of soybeans and lower exports of meat, poultry, corn and other foods, and our exports of capital goods fell by $93 million to $43,731 million as an increase of $1,193 million in our exports of civilian aircraft was more than offset by a $325 million decrease in our exports of industrial machines other than those itemized separately, a $299 million decrease in our exports of medical equipment, and decreases in exports of several other categories of capital goods..