June 2015 International Trade (General)

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The goods and services deficit was $43.8 billion in June, up $2.9 billion (7.1%) from $40.9 billion in May. June exports were $188.6 billion, $0.1 billion (0.1%) less than May exports. June imports were $232.4 billion, $2.8 billion (1.2%) more than May imports.

The June increase in the goods and services deficit reflected an increase in the goods deficit of $2.9 billion to $63.5 billion and a decrease in the services surplus of less than $0.1 billion to $19.7 billion.

Year-to-date, the goods and services deficit increased $1.6 billion (0.6%) from the same period in 2014. Exports decreased $33.4 billion (2.9%). Imports decreased $31.8 billion (2.2%).

The average goods and services deficit decreased $2.2 billion to $41.8 billion for the three months ending in June.
* Average exports of goods and services increased $0.2 billion to $189.1 billion.
* Average imports of goods and services decreased $2.1 billion to $230.9 billion.

Year-over-year, the average goods and services deficit decreased $1.1 billion from the three months ending in June 2014.
* Average exports of goods and services decreased $6.8 billion.
* Average imports of goods and services decreased $7.9 billion.

Country and regional detail (in billions of dollars):
* Surpluses -- South and Central America ($3.5), OPEC ($0.7), and Brazil ($0.6).
* Deficits -- China ($29.0), European Union ($13.9), Germany ($6.8), Mexico ($5.4), Japan ($5.2), Canada ($3.1), South Korea ($2.3), Italy ($2.2), France ($1.7), India ($1.6), Saudi Arabia ($0.5), and United Kingdom ($0.2).
* The balance with Canada shifted from a surplus of $0.2 billion in May to a deficit of $3.1 billion in June.
* The deficit with Mexico increased $1.3 billion to $5.4 billion in June. 

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On a global scale, data compiled by the Netherlands Bureau for Economic Policy Analysis showed that world trade volume decreased by 1.2% in May (+0.4% YoY) while prices rose by 1.6% (-14.0% YoY).

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.