The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total May exports of $132.0 billion and imports of $192.1 billion resulted in a goods and services deficit of $60.0 billion, compared with $58.7 billion in April, revised. May exports were $2.9 billion more than April exports of $129.2 billion. May imports were $4.2 billion more than April imports of $187.8 billion.
An increase in the price of oil was the primary reason for the increase.
This is one of the underlying reasons for the decrease in the dollar's value.
