The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $71.5 billion in May, up $11.3 billion from $60.3 billion in April, revised.

May exports were $279.0 billion, $11.6 billion less than April exports. May imports were $350.5 billion, $0.3 billion less than April imports.

The May increase in the goods and services deficit reflected an increase in the goods deficit of $11.2 billion to $97.5 billion and a decrease in the services surplus of $0.1 billion to $26.0 billion.

Year-to-date, the goods and services deficit increased $175.0 billion, or 50.4 percent, from the same period in 2024. Exports increased $73.6 billion or 5.5 percent. Imports increased $248.7 billion or 14.8 percent.