The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced Wednesday that total May exports of $187.1 billion and imports of $232.1 billion resulted in a goods and services deficit of $45 billion, up 12.1 percent from $40.1 billion in April, revised. May exports were $0.5 billion less than April exports of $187.6 billion. May imports were $4.4 billion more than April imports of $227.7 billion.
Canada's merchandise imports fell 3.2 percent and exports declined 1.6 percent in May, according to a report Wednesday from Statistics Canada. As a result, Canada's trade deficit with the world decreased from $951 million in April to $303 million in May. Following four consecutive monthly increases, imports fell to $39.6 billion. The decline was largely attributed to lower imports of energy products, and metal ores and non-metallic minerals. Also contributing to the decrease were motor vehicles and parts, and metal and non-metallic mineral products. Overall, volumes were down 2 percent and prices, 1.2 percent. Exports declined to $39.3 billion as prices decreased 1 percent and volumes were down 0.7 percent. The overall decline in exports was led by metal and non-metallic mineral products, as well as motor vehicles and parts.
