The Bureau of the Census and the Bureau of Economic Analysis, through the Department of Commerce, announced today that total June exports of $78.4 billion and imports of $86.6 billion resulted in a goods and services deficit of $8.2 billion, $1.4 billion less than the $9.5 billion in May, revised. June exports were $0.7 billion more than May exports of $77.7 billion. June imports were $0.6 billion less than May imports of $87.2 billion.

In June, the goods deficit decreased $1.3 billion from May to $15.0 billion, and the services surplus was virtually unchanged at $6.9 billion. Exports of goods increased to $57.5 billion from $56.9 billion, and imports of goods decreased to $72.5 billion from $73.2 billion. Exports of services increased to $21.0 billion from $20.8 billion, and imports of services increased to $14.1 billion from $14.0 billion.

The May to June change in exports of goods reflected increases in industrial supplies and materials of $0.6 billion (primarily precious metals); automotive vehicles, parts, and engines ($0.3 billion); and consumer goods ($0.1 billion). Decreases occurred in capital goods ($0.3 billion); other goods ($0.2 billion); and foods, feeds, and beverages ($0.1 billion).

The May to June change in imports of goods reflected decreases in industrial supplies and materials of $0.5 billion (primarily crude oil and petroleum products); consumer goods ($0.4 billion); foods, feeds, and beverages ($0.1 billion); and automotive vehicles, parts, and engines ($0.1 billion). An increase occurred in capital goods ($0.3 billion). Other goods were virtually unchanged.

Note: Total goods are reported on a balance of payments basis; commodity and country detail for goods are on a Census basis. Definitions are explained in the notes starting on page 26 of this release.

For the three months ending in June, exports of goods and services averaged $78.0 billion, while imports of goods and services averaged $86.8 billion, resulting in an average trade deficit of $8.8 billion. For the three months ending in May, the average trade deficit was $8.7 billion, reflecting average exports of $77.9 billion and average imports of $86.6 billion.

Services exports increased $0.1 billion from May to June. Small increases occurred in most categories of services exports.

Services imports increased $0.1 billion from May to June, mainly reflecting an increase in other private services.

Selected Not Seasonally Adjusted Goods Details

The June figures showed surpluses, in billions of dollars, with Australia $0.8 (for May $0.6), Brazil $0.5 ($0.4), Hong Kong $0.5 ($0.6), Argentina $0.3 ($0.3), Korea $0.3 ($0.5), and Egypt $0.2 ($0.3). Deficits were recorded, in billions of dollars, with China —$4.3 (—$3.8), Japan —$4.1 (—$3.6), OPEC —$1.9 (—$1.7), Canada —$1.4 (—$1.5), Mexico —$1.2 (—$1.7), Taiwan —$1.0 (—$1.1), Western Europe —$0.8 (—$1.3), and Singapore —$0.3 (—$0.2).

Advanced technology products (ATP) exports were $14.9 billion in June and imports were $12.4 billion, resulting in a surplus of $2.4 billion, $1.3 billion less than the May surplus of $3.7 billion. June exports were $0.3 billion less than the $15.2 billion in May, while imports were $0.9 billion more than the $11.5 billion in May.

Carry-over in June was $0.7 billion (1.2 percent) for exports and $1.0 billion (1.4 percent) for imports. For May, revised export carry-over was virtually zero, revised down from $0.4 billion (0.7 percent). For May, revised import carry-over was $0.1 billion (0.1 percent), revised down from $1.0 billion (1.4 percent).

		Total	Goods-X		Services
Balance
Jun '97		—8,158	—15,013		  6,855
May '97-R	—9,536	—16,363		  6,827
Jan-Jun '97	—55,555	—96,691		 41,136

Exports
Jun '97		 78,420	 57,456		 20,964
May '97-R	 77,686	 56,871		 20,815
Jan-Jun '97	458,512	334,016		124,496

Imports
Jun '97		 86,578	 72,469		 14,109
May '97-R	 87,222	 73,234		 13,988
Jan-Jun '97	458,512	334,016		124,496

R"Revised.

X"Data presented on a Balance of Payments (BOP) Basis.

Y"In millions of dollars. Details may not equal totals due seasonal adjustment and rounding.

August 19, 1997U.S. Department of Commerce

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