logo
Plus   Neg
Share
Email

U.S. Trade Deficit Narrows As Imports, Exports Both Drop

us-trade-deficit-060619-lt.jpg

Reflecting a bigger decease in the dollar value of imports than the dollar value of exports, the Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed in the month of April.

The Commerce Department said the trade deficit narrowed to $50.8 billion in April from a revised $51.9 billion in March.

Economists had expected the deficit to widen to $50.7 billion from the $50.0 billion originally reported for the previous month.

The narrower deficit came as the value of imports fell by $5.7 billion or 2.2 percent to $257.6 billion, while the value of exports dropped by $4.6 billion or 2.2 percent to $206.8 billion.

The report showed notable decreases in imports of semiconductors, gem diamonds and passenger cars as well as a steep decline in exports of civilian aircraft.

The Commerce Department noted the goods deficit narrowed to $71.7 billion in April from $72.7 billion in March, while the services surplus crept up to $20.9 billion from $20.8 billion.

The politically-sensitive trade deficit with China widened to $29.4 billion in April, as exports decreased to $8.5 billion and imports increased to $37.9 billion.

For comments and feedback contact: editorial@rttnews.com

Economic News

What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.

Follow RTT
>