July Economic Indicators Update: International Trade

Posted by Nathan Book

Each month, the U.S. Census Bureau publishes updated figures on numerous economic indicators, including those related to international trade. This data tracks the movement of goods and services into and out of the United States, offering a glimpse into global demand for American exports, the performance of domestic industries in global markets, and the nation’s overall trade balance. The statistics shared below appeared in the most recent report, dated July 3, which shared data from May 2025.

Exports for the nation totaled $279.0 billion, with $180.2 million of that being comprised of goods and the remaining $98.8 billion being imports of services.

• This represents an overall decrease of $11.6 billion, or around 4 percent, from the previous month, which can be attributed to a $10.8 billion decline in exports of goods. 

• Petroleum exports ($19.0 billion) were the lowest since October 2021 as oil prices fell due to economic uncertainties resulting from new and anticipated U.S. tariffs. With oil production being less profitable due to these low prices, the U.S. produced and therefore exported less oil during the month of May.

• The broader category of industrial supplies and materials also experienced a decrease in exports, dropping $10.0 billion from April to May. This drop can largely be credited to a $5.5 billion decline in exports of nonmonetary gold. 

• Exports of consumer goods ($22.4 billion) reached their highest point since March 2023, driven by a $1.1 billion increase in exports of pharmaceutical preparations from April to May. However, some of this high export value may be due to a temporary surge in exports as some businesses anticipate supply chain disruptions, increased input costs, or reduced demand due to tariffs.

The United States’ imports reached $350.5 billion, consisting of $277.7 billion in goods and $72.8 billion in services.

• A slight decline in imports ($0.3 billion) was evident from April to May, with both goods ($0.2 billion) and services ($0.1 billion) experiencing comparatively minor decreases in terms of their imports.

• Imports of industrial supplies and materials fell $0.9 billion from April to $51.1 billion, the lowest value since April 2021. This is somewhat due to decreases in imports of finished metal shapes, but can primarily be attributed to U.S. tariffs weighing on trade. This is particularly evident with industrial materials, which saw their imports largely front-loaded in anticipation of tariffs, resulting in a sharp plummet in May once tariffs came more into effect.

• Although most goods and services experienced a decrease in imports, some saw their imports rise from April to May, including passenger cars ($3.1 billion), computers ($4.4 billion), and nuclear fuel materials ($0.6 billion). 

As such, the United States’ current international trade deficit is $71.5 billion, including a deficit of $97.5 billion in goods and a surplus of $26.0 billion in services.

• This deficit is $11.3 billion higher than it was in April, representing an increase of 18.7 percent, although it is worth noting that April’s trade deficit was the lowest since September 2023. 

The statistics from May also demonstrated a combination of trade surpluses and deficits with various countries, reflecting the varied nature of the United States’ economic relationships with other nations.

• The largest trade surpluses were evident with the Netherlands ($4.8 billion), Hong Kong ($3.6 billion), South and Central America ($3.3 billion), and Switzerland ($3.3 billion). The May surplus with Switzerland was the highest ever recorded.

• Significant deficits were present with the European Union ($22.5 billion), Mexico ($17.1 billion), Vietnam ($14.9 billion), and China ($14.0 billion). The deficit with Vietnam, as well as that with Taiwan ($11.5 billion) and Thailand ($5.2 billion), were the highest on record.

• Notably, the U.S. trade deficit with China narrowed by $5.7 billion from April to May, fueled by a $7.4 billion decrease in U.S. imports of Chinese goods and services.

All trade data is seasonally adjusted and follows international accounting standards to show the complete movement of goods and services across U.S. borders. The upcoming release, which will present June’s statistics, is scheduled for August 5. Regular analysis of these reports aids in forecasting efforts and provides insight into both national economic conditions and global market trends.

U.S. Census Bureau. International Trade. U.S. Department of Commerce. Accessed July 8, 2025. https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf

JUNE ECONOMIC INDICATORS UPDATE: INTERNATIONAL TRADE

 Posted by Nathan Book

Each month, the U.S. Census Bureau releases national data on a variety of key economic indicators. Among these figures are several pertaining to international trade, measuring the flow of goods and services across U.S. borders. These statistics provide insights into global demand for American products, the competitiveness of U.S. industries, and the balance between what the nation sells abroad and what it buys from other countries.

The following statistics were present in the most recent report, dated June 5, which shared data from April 2025:

• U.S. exports totaled $289.4 billion, with $190.5 billion being comprised of exports of goods and the remaining $98.9 billion in services exports. 

• Exports of goods increased ($6.2 billion) from the previous month, fueled by a surge in exports of industrial supplies and materials.

• Exports of services experienced also increased ($2.1 billion) from March to April. The primary contributor to this increase was a rise in the export of travel services.

• Imports for the nation reached $351.0 billion. Among these imports were $277.9 billion in goods and $73.1 billion in services.

• Imports of goods experienced a notable decrease ($68.9 million) from the previous month, with decreases evident in all categories. Representing the largest ever monthly drop, this is largely a result of a surge in imports in March to avoid tariffs, followed by a pullback in April and businesses and consumers adjusted to new tariff policies.

• Imports of services also experienced a minimal increase ($0.5 billion) due to slightly higher imports of travel and other business services.

• As such, the United States’ current international trade deficit in goods and services is $61.6 billion, down $76.7 billion from March. This massive decrease can be attributed to a significant decrease in the imports of goods, brought upon by new and anticipated tariff policies. As shown by the graph below, this represents the nation’s lowest trade deficit since September 2023. 

• With regard to trade with specific countries, the April statistics revealed a combination of surpluses and deficits, reflecting the varied nature of U.S. economic relationships around the world: 

• Notable trade surpluses were recorded with Hong Kong ($6.9 billion), Netherlands ($4.8 billion), United Kingdom ($4.3 billion), and Switzerland ($3.5 billion).

• Deficits persisted with many key nations and regions, including China ($19.7 billion), the European Union ($17.9 billion), Vietnam ($14.5 billion), and Mexico ($13.5 billion). 

All trade figures are adjusted to remove typical seasonal fluctuations and are reported using international accounting standards that track the full flow of goods and services between countries. The next iteration of data regarding these indicators, representing statistics from May, will be released on July 3. Monitoring these monthly statistics assists in the anticipation of market trends and prediction of performance in both domestic and global markets. 

U.S. Census Bureau. International Trade. U.S. Department of Commerce. Accessed June 10, 2025. https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf 

2025 Summer Fancy Food Show

 Posted by Nathan Book

From June 29 to July 1, the Javits Center in New York City hosted the 2025 Summer Fancy Food Show, one of the largest trade shows in the specialty food industry. Organized annually by the Specialty Food Association, the event offers producers and brands a valuable platform to showcase their products, connect with buyers, distributors, and other key stakeholders in the industry, and gain vital exposure needed to grow their businesses. In doing so, the Summer Fancy Food Show provides insight into both consumer values and preferences and emerging trends in the food industry, as evidenced by the wide variety of products showcased at the event. 

The 2025 Summer Fancy Food Show brought together nearly 2,500 exhibitors and over 30,000 attendees from more than 100 countries, contributing to a dynamic, vibrant, and energetic atmosphere. From the moment the doors opened at the Javits Center, the show buzzed with activity, with prospective buyers sampling new products, sellers sharing their stories, and companies making valuable connections that could shape their future business growth. The sheer scale of the event made it an epicenter for innovation, conversation, and opportunity across the global specialty food industry.

Beyond its scope, the event showcased a diverse assortment of specialty foods and beverages from across the United States and around the world. Exhibitors ranged from well-established companies to smaller-scale businesses, each bringing unique flavors, stories, and products to the show floor. Many of these innovative products aligned with leading and emerging trends shaping the food industry, including:

• The rise of “flexible snacking” products, representing higher-quality foods with nuanced flavors that consumers can enjoy as either meals or snacks

• Increased globalization of foods resulting from rising consumer demand for new tastes and authentic, regional foods from non-native areas

• Interest in restaurant-quality home cooking, fueled by gourmet foods, ingredients, and convenient meal kits readily available for at-home chefs

• The growth of personalized nutrition products that support wellness, namely customizable product lines and functional foods with tangible health benefits

• Continued expansion of diet-specific food offerings, such as plant-based and vegan, reflecting both dietary shifts and an increased focus on sustainability

Pennsylvania made a strong impression at this year’s show, with over 60 companies participating, 14 of which were featured in the Pennsylvania pavilion. These companies represented a broad array of product categories, ranging from meat to snacks to condiments, showcasing Pennsylvania’s tremendous diversity in food production and underscoring the state’s growing influence in domestic and international food markets. The Pennsylvania pavilion created a unified presence that made it easy for attendees to engage with multiple local producers in one space, with the centralized location elevating the state’s visibility at the event and prompting a great deal of foot traffic and interest.

The World Trade Center Harrisburg was also present at the Summer Fancy Food Show, maintaining a booth within the Pennsylvania pavilion to assist participating exhibitors and provide information to those present regarding available services and opportunities related to international trade. Several companies from the southcentral PA region covered by the World Trade Center Harrisburg participated in the show, including these exhibitors present in the Pennsylvania pavilion:

• Dilly Artisan Foods (Lancaster): offers handcrafted, locally sourced cup cheese made with a deep commitment to supporting local farmers and artisans

• Painterland Sisters (Lititz): produces high-protein, probiotic-rich, Icelandic-style skyr yogurt on their fourth-generation PA dairy farm

• Taylor Chip (Gordonville): a family-owned cookie company providing a wide range of cookie flavors made with simple, wholesome ingredients

As an intern, participating in the 2025 Summer Fancy Food Show gave me a firsthand look at how trade shows help companies of all sizes expand their reach, especially internationally. I gained insight into the logistics of show preparation, exhibitor support, and the importance of networking and building relationships face-to-face. The experience also reiterated to me how global the food industry truly is, representing a significant opportunity for Pennsylvania companies seeking to expand the scope and reach of their products. I was inspired by the dedication of our state’s companies to quality and innovation and was struck by how many of them are family-run or smaller in size but yet are stepping confidently onto the global stage. As such, seeing companies in our state connect with prospective domestic and international buyers gave me additional appreciation for the value of export readiness and the role organizations like the World Trade Center Harrisburg play in supporting these efforts.

Opportunities such as the Summer Fancy Food Show are invaluable in elevating local companies on the international stage and connecting them with the support, resources, and partnerships necessary to grow their businesses. The World Trade Center Harrisburg is available to assist companies in the southcentral PA region with their international trade endeavors, offering services such as market research, trade show support, educational programs, and connections to global partners and government programs that help businesses succeed in international markets. For more information about these services and offerings, including next year’s Summer Fancy Food Show, visit the World Trade Center Harrisburg’s website here or contact a member of our staff.