US Trade Deficit Widens in April


The U.S. trade deficit widened less than expected in April as a decrease in petroleum prices tempered the rise in imports, while exports hit a four-month high.

Total April exports of $187.4 billion and imports of $227.7 billion resulted in a goods and services deficit of $40.3 billion, up from $37.1 billion in March, revised. April exports were $2.2 billion more than March exports of $185.2 billion. April imports were $5.4 billion more than March imports of $222.3 billion.

In April, the goods deficit increased $3.2 billion from March to $58.6 billion, and the services surplus increased $0.1 billion from March to $18.3 billion. Exports of goods increased $1.8 billion to $131.1 billion, and imports of goods increased $5.0 billion to $189.7 billion. Exports of services increased $0.4 billion to $56.3 billion, and imports of services increased $0.3 billion to $38.0 billion.

The March to April increase in exports of goods reflected increases in consumer goods ($2.0 billion); capital goods ($0.9 billion); and automotive vehicles, parts, and engines ($0.6 billion).  Decreases occurred in industrial supplies and materials ($0.9 billion); other goods ($0.5 billion); and foods, feeds, and beverages ($0.3 billion).

The March to April increase in imports of goods reflected increases in consumer goods ($3.0 billion); automotive vehicles, parts, and engines ($1.3 billion); capital goods ($1.0 billion);and other goods ($0.2 billion). Decreases occurred in industrial supplies and materials ($0.3 billion) and foods, feeds, and beverages ($0.1 billion).

The April 2012 to April 2013 increase in exports of goods reflected increases in consumer goods ($1.7 billion); automotive vehicles, parts, and engines ($0.6 billion); capital goods ($0.5 billion); and other goods ($0.3 billion). Decreases occurred in industrial supplies and materials ($1.2 billion) and foods, feeds, and beverages ($0.6 billion).

The April 2012 to April 2013 decrease in imports of goods reflected decreases in industrial supplies and materials ($7.6 billion) and capital goods ($0.3 billion). Increases occurred in automotive vehicles, parts, and engines ($1.3 billion); consumer goods ($1.3 billion); other goods ($0.8 billion); and foods, feeds, and beverages ($0.3 billion).

The April figures show surpluses, in billions of dollars, with Hong Kong $2.4 ($3.2 for March), Australia $1.1 ($1.5), Singapore $0.8 ($1.4), and Brazil $1.2 ($1.7).  Deficits were recorded, in billions of dollars, with China $24.1 ($17.9), European Union $12.4 ($9.9), Japan $6.9 ($6.6), OPEC $6.6 ($4.5), Germany $6.1 ($5.1), Mexico $4.4 ($5.3), Saudi Arabia $2.6 ($2.1), Canada $2.4 ($2.3), India $2.4 ($1.8), Ireland $2.4 ($2.1), Korea $2.4 ($1.3), and Venezuela $1.5 ($1.3)

U.S. Census Bureau | Anna Fedec, anna@tradingeconomics.com
6/4/2013 1:42:02 PM