Economics
U.S. May Exports Sink to 11-Year Low as Imports Drop
- Exports fall 5.8% from prior April, imports down 1.2%
- Goods-trade deficit widens to biggest since June 2019
Photographer: Patrick T. Fallon/Bloomberg
This article is for subscribers only.
U.S. exports sank to the lowest in more than a decade while imports dropped as the coronavirus continued to curtail demand for goods and upset producers’ supply chains.
Goods exports plummeted 5.8% in May from the prior month to $90.1 billion, the lowest since August 2009, according to Commerce Department data released Thursday. Imports decreased 1.2% to $164.4 billion.