Market Updates
U.S. Trade Deficit Widened to 6-month High In April
Brian Turner
07 Jun, 2023
New York City
U.S. trade deficit widened in April to $74.6 billion from $60.6 billion in March, the Bureau of Economic Analysis reported Wednesday.
Exports declined 3.6% to $246.9 billion and imports fell 1.5% to $323.6 billion.
The increase in the goods and services deficit reflected an increase in the goods deficit of $14.5 billion to $96.1 billion and an increase in the services surplus of $0.6 billion to $21.6 billion.
In April, exports of goods decreased $9.4 billion to $167.1 billion and exports of services increased $0.2 billion to $81.9 billion.
Imports of goods increased $5.2 billion to $263.2 billion in April and imports of services decreased $0.4 billion to $60.4 billion.
The U.S. recorded a surplus with the Netherlands of $4.2 billion, South and Central America of $4.1 billion, Belgium $1.9 billion, Hong Kong $1.6 billion, Australia $1.0 billion, United Kingdom $0.9 billion, and Brazil $0.7 billion.
The U.S. registered the largest deficits with China of $24.2 billion, European Union $17.3 billion, Mexico $13.0 billion.
Deficits with other countries included Vietnam of $8.5 billion, Germany $7.6 billion, Japan $6.8 billion, Canada $6.1 billion, Ireland $5.0 billion, Switzerland $4.5 billion, South Korea $4.3 billion, Italy $3.8 billion, India $3.5 billion, Taiwan $3.5 billion, Malaysia $2.3 billion, France $1.2 billion, Singapore $0.7 billion, Israel $0.6 billion, and Saudi Arabia $0.4 billion.
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