Key facts
- The U.S. trade deficit narrowed to $55.9 billion in April.
- U.S. exports reached a record high in April.
- South Korea's current account surplus decreased to $28.29 billion in April.
- Egypt's foreign trade deficit increased by 48.8% to $4.6 billion in March.
- Zambia's current account swung to a surplus of $396.4 million in Q1 2026.
- Brazil's trade surplus decreased to $7.82 billion in May.
- U.S. consumer credit increased to $20.73 billion in April.
- Turkey's economy grew by 2.5% year-on-year in Q1.
- Ivory Coast's trade surplus expanded by 27.6% year-on-year from January to April.
- Angola's trade surplus decreased to AOA 2.04 trillion in April.
- Mexico's public sector primary surplus grew to MXN 77.1 billion in April.
- Tunisia's current account deficit narrowed to 1.5% of GDP in January-April.
Recent international trade data reveals a varied economic landscape. In the United States, the trade deficit for April contracted to $55.9 billion. This narrowing was facilitated by record export levels, particularly in petroleum products and capital goods, which outpaced a rise in imports. This performance indicates that trade could positively contribute to economic growth in the second quarter.
South Korea's current account surplus saw a reduction in April, falling to $28.29 billion from March's $37.93 billion. The primary driver for this decrease was the primary income account shifting into a deficit, although the surplus on goods trade saw a notable increase due to robust export growth.
Egypt's foreign trade deficit expanded significantly, rising by 48.8% year-on-year to $4.6 billion in March. This widening deficit is attributed to a substantial increase in imports, especially of gas and petroleum products, while the country's exports experienced a decline.
In a positive turnaround, Zambia's current account (CA) shifted to a surplus of USD 396.4 million in the first quarter of 2026. This represents a considerable improvement from a deficit of USD 278.6 million recorded in the same period of 2025. The turnaround is largely credited to a substantial increase in the goods balance, propelled by strong copper export performance. The services deficit also narrowed, supported by increased travel credits.
Brazil's trade surplus decreased in May to $7.82 billion, down from $10.54 billion in April. Despite this decrease, the surplus surpassed the market forecast of $7.65 billion. Exports increased by 6.6% year-on-year, boosted by higher commodity prices, though oil export volumes declined sharply due to a new tax.
Angola's trade surplus narrowed in April to AOA 2.04 trillion. This occurred despite a significant 76.9% year-over-year increase, which was driven by favorable oil market conditions. Hydrocarbons remain Angola's primary export, highlighting the nation's dependence on oil prices for foreign exchange earnings.
Ivory Coast's trade surplus expanded by 27.6% year-on-year between January and April. This growth was fueled by strong export performance in cocoa and gold, with imports experiencing only a modest rise. The surplus represented 10.2% of the country's GDP.
In other economic indicators, U.S. consumer credit rose to $20.73 billion in April, exceeding forecasts of $17.8 billion, though it was a decrease from March's $22.23 billion. Turkey's economy grew by 2.5% year-on-year in the first quarter, below expectations, impacted by declining exports and industrial manufacturing despite household spending increases. Mexico's public sector primary surplus grew to MXN 77.1 billion in April due to reduced public spending, with the general deficit also narrowing. Tunisia's central bank maintained its key interest rate at 7%, citing external inflation risks and noting a narrowing current account deficit to 1.5% of GDP in January-April.