US trade deficit narrows in April as exports hit record high

Created at 9 Jun · 12:42 PM3 sources↑ Market-relevant2 events

IN SHORT

The U.S. trade deficit narrowed to $55.9 billion in April, reaching a record high for exports. This trend could contribute to economic growth this quarter, reversing a previous drag on GDP.

Key Numbers

$55.9 billionApril trade deficit

1.2%trade deficit contraction in April

$56.6 billionrevised March trade deficit

$327.1 billionrecord April exports

$383.0 billionApril imports

$221.3 billionrecord April goods exports

$83.7 billiongoods trade deficit

$12.0 billiongoods trade deficit with China

Who's Involved

Commerce Department

reported the U.S. trade deficit data

Bureau of Economic Analysis and Census Bureau

reported the U.S. trade deficit data

Christopher Rupkey

chief economist at FWDBONDS

Reuters

polled economists for trade deficit forecasts

Stephen Brown

chief North America economist at Capital Economics

Key facts

The U.S. trade deficit narrowed to $55.9 billion in April.

Exports reached a record high of $327.1 billion.

Imports increased to $383.0 billion.

The trade deficit contracted by 1.2% from the revised March figure.

Petroleum exports hit a record high, boosted by higher prices and volumes amid Middle East conflict.

The U.S. trade deficit narrowed in April to $55.9 billion, a 1.2% decrease from the revised March deficit of $56.6 billion. This improvement was driven by a record high in exports, which reached $327.1 billion, boosted by industrial supplies including petroleum, as well as capital goods. Imports also rose, lifted by computers and semiconductors. If this export trend is sustained, trade could contribute to economic growth this quarter, reversing its role as a drag on GDP in the previous two quarters. The goods trade deficit with China also decreased.

US trade deficit narrows in April as exports hit record high

PiQ Daily

US trade deficit narrows in April as exports hit record high

PiQ Daily

Key facts

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