US trade deficit widens 19% in May

The US trade deficit expanded nearly 18.7% to $71.5 billion in May from $60.3 billion in April.

According to data from the Bureau of Economic Analysis released Thursday, exports in May reached $279 billion, a decrease of $11.6 billion from April, and imports reached $350.5 billion, a decline of $0.3 billion.

While the deficits with Mexico and Ireland increased by $3.6 billion and $2.4 billion to $17.1 billion and $11.8 billion, respectively, the deficit with China dropped by $5.7 billion to $14 billion in May.

The increase in the goods and services deficit in May reflected a rise in the goods deficit by $11.2 billion to $97.5 billion and a decrease in the services surplus by $0.1 billion to $26 billion.