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Trade Deficit Down on Drop in Exports and Imports

Friday, June 07, 2019
Sandler, Travis & Rosenberg Trade Report

The U.S. trade deficit in goods and services fell 2.1 percent in April, according to trade statistics released June 6 by the Department of Commerce. The monthly deficit of $50.8 billion reflected a 2.2 percent decrease in exports to $206.8 billion and a 2.2 percent decrease in imports to $257.60 billion. For the year to date the deficit was down 2.0 percent from the same period in 2018 as a 1.2 percent increase in imports outpaced a 1.0 percent increase in exports.

The deficit in goods trade fell 1.4 percent to $71.7 billion in April. Imports of goods dropped 2.5 percent to $208.7 billion, including decreases of $900 million in semiconductors, $700 million in gem diamonds, and $600 million in passenger cars. Exports of goods were down 3.1 percent to $136.9 billion, including decreases of $2.3 billion in civilian aircraft and $400 million each in passenger cars and pharmaceutical preparations.

The services surplus edged up 0.5 percent to $20.9 billion. Imports were down 0.6 percent to $49.0 billion while exports slipped 0.3 percent to $69.9 billion.

Country/region

Deficit

% Change

Surplus

% Change

China

$29.4 billion

+3.9

   

European Union

$15.1 billion

-4.4

   

Mexico

$7.9 billion

-8.1

   

Japan

$6.5 billion

+6.2

   

Germany

$5.4 billion

-5.3

   

Italy

$3.1 billion

+10.7

   

Taiwan

$2.0 billion

0

France

$2.0 billion

+17.6

Canada

$1.8 billion

-14.3

   

South Korea

$1.5 billion

-16.7

   

India

$1.3 billion

-27.8

   

United Kingdom

$0.4 billion

+100.0

   

Saudi Arabia

$0.2 billion

Shift from $0.3 billion surplus

South/Central America

   

$4.2 billion

0

Hong Kong

   

$2.4 billion

0

Brazil

   

$0.9 billion

0

Singapore

   

$0.6 billion

+200.0

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