US Goods Deficit Narrows in April

The US goods deficit narrowed to $82.4 billion in April 2026 from $85.3 billion in March, according to preliminary data. Exports surged 4% to a record $219.7 billion, driven by strong sales of capital goods (up 7.5%), industrial supplies (up 2.1%), and consumer goods (up 7.8%), though exports of vehicles and foods fell by 2.8% and 0.3%, respectively. Meanwhile, imports rose at a slower pace of 1.9% to $302.1 billion. Increases in capital goods (up 5.6%) and foods (up 0.3%) were partially offset by declines in industrial supplies (down 1.9%), vehicles (down 1.5%), and consumer goods (down 1.0%). For the January–April period, the goods deficit shrank sharply to $330 billion from $549 billion in the same period of 2025.

The goods deficit in the US widened to $87.9 billion in March 2026 from $83.5 billion in February and compared to forecasts of an $87 billion gap. Exports of goods rose 2.5% to a record level of $211.5 billion, led by industrial supplies, the largest category, which increased 4.9%. This was followed by gains in capital goods (0.8%), foods, feeds and beverages (7.4%), and autos (5.1%). In contrast, exports of consumer goods, which account for about 10% of total goods exports, fell 7.5%. Meanwhile, imports of goods climbed at a faster 3.3% to $299.3 billion. Purchases of capital goods, which make up roughly 40% of total imports, rose 1%. Imports also increased for consumer goods (4.2%), industrial supplies (3.2%), autos (11%), and foods, feeds and beverages (3.3%).

The US goods trade deficit widened to $83.5 billion in February 2026 from an upwardly revised $80.9 billion in the previous month. Imports rose 5.1% to $289.7 billion. Meanwhile, exports grew 5.9% month-on-month to $206.2 billion.