Trade Deficit decreased to $87.1 Billion in April

by Calculated Risk on 6/07/2022 08:42:00 AM

From the Department of Commerce reported:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that
the goods and services deficit was $87.1 billion in April, down $20.6 billion from $107.7 billion in March,
revised.

April exports were $252.6 billion, $8.5 billion more than March exports. April imports were $339.7 billion,
$12.1 billion less than March imports.
emphasis added

Click on graph for larger image.

Exports increased and imports decreased in April.

Exports are up 22% year-over-year; imports are up 24% year-over-year.

Both imports and exports decreased sharply due to COVID-19, and have now bounced back (imports more than exports),

The second graph shows the U.S. trade deficit, with and without petroleum.

U.S. Trade Deficit The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Note that net, imports and exports of petroleum products are close to zero.

The trade deficit with China increased to $30.6 billion in April, from $25.5 billion a year ago.

The trade deficit was smaller than the consensus forecast, and the deficit for March was revised down.