The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced Tuesday that total June exports of $191.2 billion and imports of $225.4 billion resulted in a goods and services deficit of $34.2 billion, down from $44.1 billion in May, revised. June exports were $4.1 billion more than May exports of $187.1 billion. June imports were $5.8 billion less than May imports of $231.2 billion. The goods and services deficit decreased $8.2 billion from June 2012 to June 2013. Exports were up $6 billion, or 3.2 percent, and imports were down $2.3 billion, or 1 percent.
Meanwhile, Statistics Canada reported that Canada's merchandise exports grew 1.4 percent and imports increased 0.6 percent in June. As a result, Canada's trade deficit with the world narrowed from $781 million in May to $469 million in June. Exports to the United States grew 1.5 percent to $29.4 billion, while imports from the United States declined 0.8 percent to $25.6 billion. Consequently, Canada's trade surplus with the United States increased from $3.2 billion in May to $3.8 billion in June. Year-to-date totals for imports from the United States reached $153.3 billion in June, the highest value on record.
