Tuesday, June 4, 2013

Trade Gap Widened in April

The trade deficit increased in April to $40.3 billion, a 9% increase from a revised $37.1 billion deficit in March. The increase partially reverses the previous month’s decline, but remains below the revised deficits from January and February. Rising imports were the primary contributor to the increase in the deficit.

Exports grew by 1.2% from March to $187.4 billion. Imports increased by 2.4% to $227.7 billion. While exports improved, imports grew at a faster rate. The services surplus remained unchanged at $18.3 billion, while the goods deficit increased to $58.6 billion.

Read the Census report.

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