US May Trade Deficit Down 1.3%... Lowest This Year So Far

[Asia Economy New York=Special Correspondent Joselgina] The U.S. Department of Commerce announced on the 7th (local time) that the trade deficit in goods and services for May was $85.5 billion (approximately 111.3 trillion KRW), a 1.3% decrease from the previous month.

This is the smallest trade deficit since December last year, when it was $78.9 billion, and the lowest level so far this year. The U.S. trade deficit has shown a decline for two consecutive months after surpassing $100 billion for the first time in history in March.

Exports in May amounted to $255.9 billion (approximately 333.1 trillion KRW), up 1.2% from the previous month, while imports increased by 0.6% to $341.4 billion (approximately 444.3 trillion KRW).

The trade deficit with China in May was $32.2 billion, down $2.8 billion from the previous month.