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Trade Deficit Rises as Import Gain Outpaces Export Increase

Monday, June 06, 2016
Sandler, Travis & Rosenberg Trade Report

Trade statistics released June 3 by the Department of Commerce show that the U.S. monthly trade deficit in goods and services rose 5.4 percent in April to $37.4 billion. Exports reversed course and rose 1.4 percent to $182.8 billion while imports gained 2.1 percent to $220.2 billion.

The goods deficit increased 2.4 percent in April to $58.8 billion. Imports of goods were up 2.5 percent to $178.9 billion, including increases of $800 million for civilian aircraft, $500 million for computers and $300 million for electric apparatus. Exports of goods also rose 2.5 percent, to $120.1 billion, including increases of $800 million in automobiles, auto parts and engines, $300 million in fuel oil and $200 million in organic chemicals.

The services surplus fell 2.3 percent to $21.4 billion. Imports were up 0.7 percent to $41.4 billion while exports fell 0.5 percent to $62.7 billion.

Country/region

Deficit

% Change

Surplus

% Change

China

$26.6 billion

+2.3

European Union

$11.8 billion

+6.3

Japan

$6.0 billion

+1.7

   

Germany

$5.8 billion

-1.7

   

Mexico

$5.1 billion

-1.9

 

South Korea

$3.0 billion

0

Italy

$2.5 billion

+4.2

France

$1.7 billion

+88.9

India

$1.6 billion

-5.9

Taiwan

$1.1 billion

n/a

Canada

$0.1 billion

0

South/Central America

$2.9 billion

-9.4

Hong Kong

$1.6 billion

-27.3

Singapore

$0.9 billion

n/a

United Kingdom

$0.7 billion

+40

Brazil

$0.4 billion

Change from $0.2 billion deficit

Saudi Arabia

   

$0.3 billion

+200

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