Trade Deficit Down on Drop in Exports and Imports

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.