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Saturday, August 15, 2020
HomeNewsEconomyU.S. Trade Deficit Widens $7.1 Billion to $49.4 Billion in April

U.S. Trade Deficit Widens $7.1 Billion to $49.4 Billion in April

U.S. Economy. Import export business. Stacked cargo containers. Flag of the United States. 3D rendering. (Photo: AdobeStock)

Year-to-Date, U.S. Trade Deficit in Goods and Services Down 13.4%

Washington, D.C. (PPD) — The U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) reported the U.S. trade deficit for goods and services widened $7.1 billion to $49.4 billion in April. That’s slightly more than the forecast and follows a $42.3 billion trade deficit in March and $39.8 billion in February, revised.

Forecasts ranged from a low deficit of $49.9 billion to a high of $34.4 billion. The consensus forecast was $42 billion.

U.S. Economy. Import export business. Stacked cargo containers. Flag of the United States. 3D rendering. (Photo: AdobeStock)
U.S. Economy. Import export business. Stacked cargo containers. Flag of the United States. 3D rendering. (Photo: AdobeStock)

Exports fell $38.9 billion to $151.3 billion in April exports, while imports were fell $31.8 billion to $200.7 billion. The increase in the goods and services deficit reflected an increase in the goods deficit of $5.8 billion
to $71.8 billion and a decline in the services surplus of $1.3 billion to $22.4 billion.

Year‐to‐date, the goods and services deficit fell $26.0 billion, or 13.4%, from the same period in 2019. Exports are down $79.8 billion or 9.5%, while imports fell $105.8 billion or 10.2%.

The politically-sensitive U.S.-China trade in goods deficit rose $9.0 billion to $26.0 billion in April. Exports rose $2.1 billion to $9.3 billion, but imports were up $11.0 billion to $35.2 billion.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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