U.S. Trade Deficit Pulls Back from Record as Exports Rise Led by Natural Gas, Petroleum Products and Soybeans

The US trade deficit in April was $87.20 Billion down from prior month’s record $-107.7 billion. The China and US trade deficit fell to -$30.57 billion vs. $-34.00 billion last month. Exports were up 3.5% to a record high of $252.6 billion, led by natural gas. Imports collapsed to -3.4% from March rise +9.6%. These monthly swings are also influenced by the supply crisis affecting orders and deliveries.

China Tiajin Port

Highlights

  • International trade balance $-87.2 billion vs. $-89.5 billion estimate. The prior report was revised to $-107.7 billion from $-109.8 billion
  • Goods trade balance $-107.74 billion. Services surplus $20.66 billion
  • Exports +3.5% vs. March is +4.9%
  • Imports -3.4% vs. March is +9.6%
  • Oil import price $94.99 vs. March $87.20
  • Exports $252.62 billion vs. $244.11 billion last month
  • Imports $339.7 billion vs. $351.76 billion last month
  • Capital good imports $71.68 billion vs. $74.26 billion last month
  • China trade deficit -$30.57 billion vs. $-34.00 billion last month
US Trade Deficit

Deficit Source by Country and Product

China remains the single largest source of the U.S. trade deficit, the next-largest single-country trade deficit posted by the U.S. is with Mexico,

  • China decreased $8.5 billion to $34.9 billion
  • Shortfall with Mexico widened $1.7 billion to $11.5 billion.
  • Russian gap continued to narrow to $2 billion from $2.6 billion.

Exports were up 3.5% to a record high of $252.6 billion, led by natural gas, other petroleum products, soybeans, civilian aircraft, travel and transport.

Imports declined 3.4% to $339.7 billion, due to lower purchases of textile apparel and household goods, toys, games, and sporting goods, pharmaceutical preparations, industrial supplies and materials, finished metal shapes, capital goods, computers.

Source: bea

From The Traders Community News Desk