us trade deficit numbers

*DJ US Posts $55.35B May Trade Deficit; Consensus $57.20B

(MORE TO FOLLOW) Dow Jones Newswires
July 13, 2005 08:30 ET (12:30 GMT)
Copyright (c) 2005 Dow Jones & Company, Inc.
*DJ Apr Trade Gap Revised To $56.90B From $56.96B

(MORE TO FOLLOW) Dow Jones Newswires
July 13, 2005 08:30 ET (12:30 GMT)
Copyright (c) 2005 Dow Jones & Company, Inc.
*DJ May Exports $106.89 Bln, +0.1%; Imports $162.24B, -0.9%

(MORE TO FOLLOW) Dow Jones Newswires
July 13, 2005 08:30 ET (12:30 GMT)
Copyright (c) 2005 Dow Jones & Company, Inc.
=DJ DATA SNAP: US May Imports Fall As Price Of Oil Eases
======================================================!
International Trade !Consensus: !
May Apr ! $57.20 Bln !
Deficit: $55.35B $56.90Br ! !
Exports: $106.89B $106.74Br !Actual: !
Imports: $162.24B $163.64Br ! $55.35 Bln !
======================================================!

By Jeff Bater
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--The U.S. trade deficit narrowed modestly during May as the nation bought more overseas oil but the price per barrel eased from a record level and lowered the dollar value of crude imports.
The U.S. deficit in international trade of goods and services shrank 2.7% to $55.35 billion from a slightly revised $56.90 billion in April, the Commerce Department said Wednesday. The April trade gap was previously reported at $56.96 billion.
Exports inched up in May, rising just a weak 0.1% but, still, managing to reach a new record level. Imports dropped, sliding 0.9% and producing a trade shortfall that was smaller than Wall Street economists expected. The median forecast of 22 economists surveyed by Dow Jones Newswires and CNBC was for a deficit of $57.20 billion.
Trade is a component of U.S. gross domestic product and therefore influences overall economic growth. May trade data will be included in the tallying of second-quarter GDP, which covers April through June and is due to be released July 29. Trade took a bite out of GDP growth in each of the prior six quarters as increasing imports outpaced rising exports.
Despite the deficit's drop in May, many analysts aren't hopeful about the trade gap because U.S. growth exceeds that of many of its trading partners.
Also, significant deficits are seen in the near-future by economists who point out the dollar has been rising against some foreign currencies this year after three years of greenback depreciation that hasn't improved the imbalance. A weaker greenback means exports are cheaper in certain overseas markets while some imported goods cost more in the U.S.
Wednesday's report showed imports fell to $162.24 billion in May from $163.64 billion.
The value of crude oil imports dropped to $13.73 billion from April's $14.04 billion as the average price per barrel fell by $1.68 to the second-highest ever, $43.08. The record, $44.76, was set in April.
The volume of crude imports rose to 318.63 million barrels from 313.81 million the previous month. The U.S. paid $18.61 billion for all types of energy-related imports in May, down from $18.94 billion in April.
Industrial supplies purchases plunged by $2.36 billion, led by decreases in crude oil, natural gas, and iron and steel mill products.
Capital goods imports excluding autos declined $587 million, led by telecommunications equipment and semiconductors. Auto and related parts imports increased by $1.04 billion. Purchases of foreign-made consumer goods like pharmaceutical preparations rose by $233 million.
U.S. exports advanced to $106.89 billion in May from $106.74 billion. Capital goods sales dropped by $900 million as commercial aircraft demand fell sharply. Food exports were up $558 million. Consumer goods exports rose by $434 million as sales climbed for art and antiques. Sales abroad of industrial goods rose by $239 million. But auto and auto parts exports decreased by $151 million.
Deficits with major trading partners were mixed in May, Commerce said.
The U.S. shortfall with China widened to $15.75 billion from April's $14.72 billion.
The U.S. trade deficit with Japan fell to $6.58 billion from $7.18 billion in April.
The trade gap with the euro area increased to $8.12 billion from $6.93 billion. The deficit with Canada shrank to $4.75 billion from $5.40 billion. The U.S. gap with Mexico rose to $4.48 billion from $4.40 billion.

-By Jeff Bater, Dow Jones Newswires; 202 862 6616; [email protected]