The monthly U.S. trade deficit in goods and services soared 23.1 percent in April, the largest increase in eight years, as imports rose and exports fell. However, for the year to date the total U.S. trade deficit is down 23.9 percent for the same period in 2022, with exports up 5.8 percent and imports down 2.3 percent.
Imports gained 1.5 percent, to $323.6 billion, from March to April. Imports of goods were up 2.0 percent to $263.2 billion, with increases of $2.0 billion for automotive vehicles, parts, and engines, $1.7 billion for cell phones and other household goods, and $1.5 billion for finished metal shapes along with decreases of $800 million each for crude oil and natural gas. Services imports slid 0.7 percent to $60.4 billion.
Exports tumbled 3.6 percent in April to $249.0 billion. Exports of goods were down 5.3 percent to $167.1 billion, with decreases of $2.1 billion for crude oil, $1.3 billion for fuel oil, and $500 million for pharmaceutical preparations. Services exports were up 0.2 percent to a record $81.9 billion.
With exports down and imports up, the monthly U.S. trade deficit increased from $60.6 billion in March to $74.6 billion in April. The deficit in goods trade was up 17.8 percent to $96.1 billion while the services trade surplus gained 2.9 percent to $21.6 billion.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$24.2 billion
|
+5.7
|
|
|
|
European Union
|
$17.3 billion
|
+10.9
|
|
|
|
Mexico
|
$13.0 billion
|
+12.1
|
|
|
|
Vietnam
|
$8.5 billion
|
+13.3
|
|
|
|
Germany
|
$7.6 billion
|
+20.6
|
|
|
|
Japan
|
$6.8 billion
|
+15.3
|
|
|
|
Canada
|
$6.1 billion
|
-20.8
|
|
|
|
Ireland
|
$5.0 billion
|
-12.3
|
|
|
|
Switzerland
|
$4.5 billion
|
+114.3
|
|
|
|
South Korea
|
$4.3 billion
|
+19.4
|
|
|
|
Italy
|
$3.8 billion
|
-5.0
|
|
|
|
Taiwan
|
$3.5 billion
|
-2.8
|
|
|
|
India
|
$3.5 billion
|
+12.9
|
|
|
|
Malaysia
|
$2.3 billion
|
-17.9
|
|
|
|
France
|
$1.2 billion
|
_+33.3
|
|
|
|
Singapore
|
$0.7 billion
|
+250
|
|
|
|
Israel
|
$0.6 billion
|
+20.0
|
|
|
|
Saudi Arabia
|
$0.4 billion
|
0
|
|
|
|
Netherlands
|
|
|
$4.2 billion
|
+5.0
|
|
South/Central America
|
|
|
$4.1 billion
|
-28.1
|
|
Belgium
|
|
|
$1.9 billion
|
-9.5
|
|
Hong Kong
|
|
|
$1.6 billion
|
0
|
|
Australia
|
|
|
$1.0 billion
|
-41.2
|
|
United Kingdom
|
|
|
$0.9 billion
|
-25.0
|
|
Brazil
|
|
|
$0.7 billion
|
-36.4
|
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