Today, the U.S. Department of Commerce released the U.S. June 2012 trade performance figures. The U.S. monthly international trade deficit in goods and services decreased to $42.9 billion in June from $48.0 billion in May (revised), as exports increased and imports decreased. Total exports of goods and services (June 2012) - $185.0 billion
Total imports of goods and services (June 2012) - $227.9 billion
Goods and Services Deficit (June 2012) - $ 42.9 billion
Total imports of goods and services (June 2012) - $227.9 billion
Goods and Services Deficit (June 2012) - $ 42.9 billion
Goods and Services Trade
(Month-to month)
· Exports increased to $185.0 billion in June from $183.3 billion in May (revised). Goods exported were $132.8 billion in June, up from $130.9 billion in May while services were $52.2 billion in June, down from $52.4 billion in May.
· Imports decreased to $227.9 billion in June from $231.4 billion in May (revised). Goods imported were $190.3 billion in June, down from $193.9 billion in May. Services were $37.6 billion in June, up from $37.5 billion in May.
For goods, the deficit was $57.5 billion in June, down from $62.9 billion in May. For services, the surplus was $14.6 billion in June, down from $14.9 billion in May.
Goods by Category
· The May to June increase in exports of goods reflected increases in consumer goods, feeds, automotive vehicles, parts and engines; industrial supplies and materials; other goods; and capital goods. A decrease occurred in foods, feeds and beverages.
· The May to June decrease in imports of goods reflected decreases in industrial supplies and materials, capital goods; consumer goods, and foods, feeds and beverages. Increases occurred in automotive vehicles, parts, and engines and other goods.
Services by Category
· Exports of services decreased $0.2 billion from May to June. The decrease was mostly accounted for by decreases in other private services, which includes items such as business, professional and technical services, insurance services, and financial services, and other transportation, which includes freight and port services.
· Imports of services increased $0.1 billion from May to June. The increase was more than accounted for by increases in passenger fares and other private services.
Year-on-year (June 2011 – June 2012)
· The goods and services deficit decreased $7.4 billion from June 2011 to June 2012.
· Exports in June 2012 increased $12.3 billion, or 7.1% as compared to June 2012.
· Imports in June 2012 increased $4.9 billion, or 2.2% as compared to June 2011.
U.S. Global Trade (US$billion – Goods only)
Year
|
Jan-June 2011 $721.93 $1,068.32 $1,790.26
Jan-June 2012 $773.62 $1,132.17 $1,905.79
U.S. - Malaysia Bilateral Trade (US$ billion)
Year
|
Exports
|
Imports
|
Total Trade
|
Jan-June 2011
|
$7.51
|
$12.69
|
$20.20
|
Jan-June 2012
|
$6.37
|
$12.55
|
$18.92
|
U.S. Trading Partners
· The U.S. experienced trade surpluses, in billions of dollars with:-
Selected Country
|
June 2012
|
May 2012
|
Hong Kong
|
$2.6
|
$2.9
|
Australia
|
$1.9
|
$1.7
|
Singapore
|
$1.2
|
$1.0
|
Egypt
|
$0.1
|
$0.1
|
· U.S. major trade deficits were recorded, in billions of dollars with:-
Selected Country
|
June 2012
|
May 2012
|
China
|
$27.4
|
$26.0
|
OPEC
|
$8.5
|
$11.2
|
European Union
|
$8.4
|
$10.5
|
Japan
|
$6.0
|
$6.4
|
Mexico
|
$5.9
|
$6.3
|
Germany
|
$4.1
|
$4.9
|
Ireland
|
$2.6
|
$2.7
|
Canada
|
$1.5
|
$2.0
|
Nigeria
|
$1.4
|
$1.4
|
Viet Nam
|
$1.4
|
$1.3
|
Thailand
|
$1.4
|
$1.2
|
Taiwan
|
$1.2
|
$1.3
|
Korea
|
$1.1
|
$2.0
|
Venezuela
|
$1.0
|
$1.6
|
Malaysia
|
$1.0
|
$1.0
|
Indonesia
|
$0.7
|
$0.6
|
Philippines
|
$0.4
|
$0.2
|
Trade Deficit with other countries:
· The goods deficit with China increased from $26.0 billion in May to $27.4 billion in June. Exports decreased $0.4 billion (primarily copper, raw cotton, and organic chemicals) to $8.5 billion, while imports increased $1.0 billion (primarily computers, apparel, and cell phones and other household goods) to $35.9 billion.
· The goods deficit with the European Union decreased from $10.5 billion in May to $8.4 billion in June. Exports increased $0.4 billion (primarily pharmaceutical preparations and fuel oil) to $23.3 billion, while imports decreased $1.7 billion (primarily passenger cars and pharmaceutical preparations) to $31.7 billion.
As Salam.....................................
