U.S. exports fell 3.2% in May 2026, decreasing by $10.5 billion to $317.7 billion after hitting a record $328.2 billion in April. The decline was driven primarily by goods exports, which dropped $11.3 billion to $210.6 billion.
Exports of industrial supplies and materials fell by $5.5 billion, led by steep declines in nonmonetary gold (down $6.2 billion), other precious metals (down $1.3 billion), and natural gas (down $1.1 billion). These decreases were partly offset by a $2.0 billion increase in crude oil exports.
Capital goods exports fell $3.5 billion, reflecting lower shipments of computers (down $2.1 billion) and computer accessories (down $2.0 billion). Consumer goods exports declined $2.1 billion, including a $0.9 billion drop in pharmaceutical preparations.
By contrast, services exports rose $0.8 billion to $107.1 billion, supported by higher receipts from travel, business, transport, and financial services.
