Foreign Trade Balance Widened in April

The U.S. international trade deficit increased in April to $37.4 billion, up $1.9 billion from March, according to the Census Bureau and the Bureau of Economic Analysis. The widening of the balance was driven by a $4.5 billion increase in imports, partially offset by a $2.6 billion increase in exports.

The goods deficit increased $1.4 billion to $58.8 billion, while the services surplus increased $0.5 billion to $21.4 billion.

Exports of goods moved up $2.9 billion to $120.1 billion, driven largely by a $1.8 billion increase in exports of industrial supplies and materials. Exports of services fell $0.3 billion to $62.7 billion, due to decreases in travel and transport.

Imports of goods rose $4.3 billion to $178.9 billion, primarily due to a $2.5 billion increase in capital goods, along with a $1.1 billion increase in industrial supplies. Imports of services increased $0.3 billion to $41.4 billion amid increased transport services.

Read the Census/BEA release.