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Financial News: U.S. Trade Deficit Narrows As Imports, Exports Both

U.S. Trade Deficit Narrows As Imports, Exports Both Drop

06/06/2019 - 09:18:00 (RTTNews)

(RTTNews) - Reflecting a bigger decease in the dollar value of imports than the dollar value of exports, the Commerce Department released a report on Thursday showing the U.S. trade deficit narrowed in the month of April.

The Commerce Department said the trade deficit narrowed to $50.8 billion in April from a revised $51.9 billion in March.

Economists had expected the deficit to widen to $50.7 billion from the $50.0 billion originally reported for the previous month.

The narrower deficit came as the value of imports fell by $5.7 billion or 2.2 percent to $257.6 billion, while the value of exports dropped by $4.6 billion or 2.2 percent to $206.8 billion.

The report showed notable decreases in imports of semiconductors, gem diamonds and passenger cars as well as a steep decline in exports of civilian aircraft.

The Commerce Department noted the goods deficit narrowed to $71.7 billion in April from $72.7 billion in March, while the services surplus crept up to $20.9 billion from $20.8 billion.

The politically-sensitive trade deficit with China widened to $29.4 billion in April, as exports decreased to $8.5 billion and imports increased to $37.9 billion.

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