Wednesday, June 06, 2018

Trade Deficit decreased to $46.2 Billion in April

by Bill McBride on 6/06/2018 09:18:00 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 $46.2 billion in April, down $1.0 billion from $47.2 billion in March, revised. … April exports were $211.2 billion, $0.6 billion more than March exports. April imports were $257.4 billion, $0.4 billion less than March imports.
U.S. Trade Exports Imports Click on graph for larger image.

Exports increased and imports decreased in April.

Exports are 28% above the pre-recession peak and up 10% compared to April 2017; imports are 11% above the pre-recession peak, and up 8% compared to April 2017.

In general, trade has been picking up.

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.

Oil imports averaged $54.00 in April, up slightly from $54.50 in March, and up from $45.40 in April 2017.

The trade deficit with China increased to $28.0 billion in April, from $27.7 billion in April 2017.