Trade Deficit, Back to the Future

[T]otal May exports of $152.3 billion and imports of $194.5 billion resulted in a goods and services deficit of $42.3 billion, up from $40.3 billion in April, revised. May exports were $3.5 billion more than April exports of $148.7 billion. [May] imports were $5.5 billion more than April imports of $189.0 billion.

Click on graph for larger image.

The first graph shows the monthly U.S. exports and imports in dollars through May 2010.

Clearly imports are increasing much faster than exports. On a year-over-year basis, exports are up 21% and imports are up 29%.