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Total
May exports of $195.5 billion and imports of $239.8 billion resulted in a goods
and services deficit of $44.4 billion, down from $47.0 billion in April.
May exports were $2.0 billion more than April exports of $193.5 billion. May
imports were $0.7 billion less than April imports of $240.5 billion.
In
May, the goods deficit decreased $2.4 billion from April to $63.3 billion, and
the services surplus increased $0.3 billion from April to $18.9 billion.
Exports of goods increased $1.6 billion to $136.7 billion, and imports of goods
decreased $0.7 billion to $200.0 billion. Exports of services increased $0.3
billion to $58.8 billion, and imports of services were virtually unchanged at
$39.9 billion.
The
goods and services deficit decreased $0.4 billion from May 2013 to May 2014.
Exports were up $8.3 billion, or 4.4 percent, and imports were up $7.8 billion,
or 3.4 percent.
Alarmingly,
if petroleum exports are excluded, the U.S. trade deficit hit $49 billion
dollars in May, the highest
real trade deficit ever recorded.
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On
a global scale, data compiled by the Netherlands
Bureau for Economic Policy Analysis showed that
world trade volume increased by 1.3 percent in April while prices fell by 0.4
percent.
The foregoing comments represent the
general economic views and analysis of Delphi
Advisors, and are provided solely for the purpose of information, instruction
and discourse. They do not constitute a solicitation or recommendation
regarding any investment.
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