U.S. Import & Export Trade Balances

Trade Balance: Goods and Services, Balance of Payments Basis (BOPGSTB)

Import Price Index (End Use): All Commodities (IR)

• In May 2026, U.S. import prices rose 1.9 percent following an increase of 2.0 percent in April. U.S. export prices advanced 1.3 percent in May, after rising 3.5 percent in April. Over the past 12 months, import prices increased 6.7 percent and export prices rose 11.2 percent.

• Import fuels and lubricants prices increased 20.0 percent over the past 12 months. During the same period, prices for import petroleum and petroleum products rose 22.0 percent while the price of import natural gas ticked up 0.1 percent. Nonfuel import prices increased 2.9 percent on a 12-month basis, the largest over-the-year increase since October 2022. Higher prices for capital goods; nonfuel industrial supplies and materials; and consumer goods, excluding automotives more than offset lower prices for automotive vehicles, parts, and engines as well as for foods, feeds, and beverages from April 2025 to April 2026.

• Prices for agricultural exports increased 4.3 percent over the past 12 months, as higher prices for soybeans and meat drove the over-the-year increase. Prices for nonagricultural exports increased 9.3 percent from April 2025 to April 2026. Higher prices for nonagricultural industrial supplies and materials; capital goods; and consumer goods, excluding automotives led the 12-month increase.

Import Price Index (End Use): Foods, Feeds, and Beverages (IR0)

Exports of Goods, Balance of Payments Basis (BOPGEXP)

Exports of Services, Balance of Payments Basis (BOPSEXP)

Imports of Goods and Services: Balance of Payments Basis (BOPTIMP)

Imports of Goods: Balance of Payments Basis (BOPGIMP)

Imports of Services, Balance of Payments Basis (BOPSIMP)

Export Price Index (End Use): Telecommunications Equipment (IQ214)

U.S. Imports of Goods by Customs Basis from Mexico (IMPMX)

U.S. Imports of Goods by Customs Basis from Canada (IMPCA)

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U.S. Imports of Goods by Customs Basis from South Korea (IMPKR)

U.S. Imports of Goods by Customs Basis from China (IMPCH)

U.S. Imports of Goods by Customs Basis from Japan (IMPJP)

Mexican Auto Imports (MAUINSA)

Canadian Auto Imports (CAUINSA)

U.S. Auto Imports From Mexico (MAUINSA)

Volume Surge: As of April 2025, MAUINSA reached 67,113 units, reflecting Mexico’s dominant role in supplying autos to the U.S..

Trade Surplus: Mexico exported $137.1 billion in automotive goods to the U.S. in 2024, while importing only $33.1 billion back—creating a $104 billion trade surplus.

USMCA Impact: The US-Mexico-Canada Agreement (USMCA) raised regional value content requirements from 62.5% to 75%, boosting North American sourcing and reducing reliance on non-member countries.

Integrated Supply Chains: Nearly 38% of the value added in Mexican vehicle exports to the U.S. originates from American-made components, showing deep bilateral integration.

Conclusions:

• The trade balance is the amount of exports minus imports, trending more deficits
• Imports of Goods and Services: trending sharply higher
• Exports of Services, after sharp recovery, trending stable
• Exports of Goods, after sharp recovery, trending sharply higher

Thank you

• Joe Long
• JoeSanDiego2000@gmail.com