U.S. Trade Reaches 19-Month High of $314b in May

The BEA released monthly data today on U.S. International Trade for May (link), and reported that “Total May exports of $152.3 billion and imports of $194.5 billion resulted in a goods and services deficit of $42.3 billion, up from $40.3 billion in April, revised.  May exports were $3.5 billion more than April exports of $148.7 billion. May imports were $5.5 billion more than April imports of $189.0 billion.”

Total U.S.international trade (exports + imports) reached a 19-month high of $314 billion in May, the highest level since October 2008, and 27.5% above the April 2009 low of $246 billion.  Further, international trade volume has increased in 10 out of the last 13 months, providing further evidence that the economy started on a recovery path last summer and continues to make solid gains almost every month.

About Mark J. Perry 262 Articles

Affiliation: University of Michigan

Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.

He holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University in Washington, D.C. and an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota.

Since 1997, Professor Perry has been a member of the Board of Scholars for the Mackinac Center for Public Policy, a nonpartisan research and public policy institute in Michigan.

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