The Trade Deficit decreased to $26 billion in April, expected to increase to $30.1 billion, following $28.8 billion in April, revised from $29.2 billion.The increase in the deficit comes at a consequence of reduced international trade, with April exports at $123.3 billion, up $1.9 billion from April exports, and May imports at $149.3 billion, $0.9 billion less than April imports.The increase in exports reflected an increase in export goods – an increase inindustrial supplies & material; food, feed, and beverages; consumer goods; and capital goods – offset by a decrease in export services – reduced travel and passenger fares.Imports decreased as a result of lower imported goods – industrial supplies & materials – and lower imported services –travel, other transportation, and other private services.
The Commerce Department provided the April figures of the trade balance of the U.S. relative to selected trading partners, in billions of dollars, with surpluses in $0.3, and Egypt $0.2.Deficits were recorded, in
billions of dollars, with China $17.5, OPEC $4.1, Mexico $3.9, the European Union $2.8, Japan $1.9, Venezuela $1.3, Taiwan $0.9, Nigeria $0.8, Korea $0.7, and Canada $0.6.
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