US Merchandise-Trade Deficit Unexpectedly Widens on Export Drop

The US merchandise-trade deficit unexpectedly widened in May on the biggest drop in exports since the onset of the pandemic, while imports were little changed.

The shortfall in goods trade grew 11.1% to $96.6 billion, Commerce Department data showed Thursday. The figure was larger than the $86.1 billion median estimate in a Bloomberg survey of economists.

US merchandise exports decreased 5.2% to $179.2 billion in May, reflecting a sharp decline in shipments of industrial supplies such as crude oil. The figures aren’t adjusted for inflation.

Imports were little changed at $275.8 billion, a month after the largest decline on record. ...