Gap between imports and exports narrows
The U.S. trade deficit fell to $40.9 billion in April from $50.6 billion in March, according to statistics released by the United States Census Bureau. Both higher levels of exports and lower imports contributed to the 19% decline in the month over month trade deficit.
Source: US Census Bureau U.S. Trade Deficit in Billions of Dollars
Exports increased to $189.9 billion in April from $188.0 billion in March. Goods were $129.0 billion in April, up from $127.1 billion in March. Services were also up slightly in April to $60.9 billion from $60.8 billion the month before.
Imports decreased to $230.8 billion in April from $238.6 billion in March. Again, this was driven mostly on the goods side of the equation, with $189.6 billion spent on goods in April compared to $197.1 billion in the previous month. Services were also down slightly at $41.1 billion from $41.5 billion in March.
The top increases in exports of capital goods were seen in civilian aircrafts and telecommunications equipment. Imports of cellphones and “other textile apparel” fell the most from March, according to the Census Bureau.
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