U.S Foreign Trade Deficit Drops Nearly 20 Percent in April

The U.S. international trade deficit narrowed in April to $40.9 billion, down $9.7 billion from March, attributable to both a $1.9 billion increase in exports and a $7.8 billion decrease in imports.

The goods deficit decreased by $9.3 billion to $60.7 billion and the surplus in services increased $0.4 billion to $19.8 billion.

Exports of goods increased $1.9 billion to $129 billion driven by a $2.1 billion increase in capital goods, partially offset by a $0.2 billion decrease in the net balance of payments adjustments. Exports of services increased less than $0.1 billion to $60.9 billion.

Imports of goods decreased $7.4 billion to $189.6 billion driven by a $4.9 billion decrease in consumer goods imports. Imports of services decreased $0.4 billion to $41.1 billion.

The petroleum deficit decreased $0.7 billion to $6.8 billion, the fourth consecutive monthly decline.