By: Fay Johnson
For June 2012, the trade deficit in goods and services decreased to $42.9 billion from $48.0 billion (revised) in May, as imports decreased and exports increased. Exports increased to a record high of $185.0 billion, and imports decreased to $227.9 billion.
Record exports of consumer goods ($15.8 billion) and automotive vehicles, parts and engines ($12.9 billion) contributed to the record high export value.
Imports of automotive vehicles, parts, and engines ($25.4 billion) were a record for the second month in a row and partially offset the May to June decrease in imports. The decrease in petroleum imports, $2.3 billion, to $32.9 billion more than accounts for the decrease in imports. A large portion of this decrease can be accounted for in the May to June drop in average price per barrel of crude oil ($7.78), which was the largest since December 2008 to January 2009 ($10.01).
For more highlights and to the view the release check out the data page http://www.census.gov/foreign-trade/data/index.html on the Foreign Trade Division’s website.