Thursday, June 04, 2020

Trade Deficit increased to $49.4 Billion in April

by Calculated Risk on 6/04/2020 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 $49.4 billion in April, up $7.1 billion from $42.3 billion in March, revised.

April exports were $151.3 billion, $38.9 billion less than March exports. April imports were $200.7 billion, $31.8 billion less than March imports.
emphasis added
U.S. Trade Exports Imports Click on graph for larger image.

Both exports and imports decreased in April.

Exports are down 28% compared to April 2019; imports are down 22% compared to April 2019.

Both imports and exports have decreased sharply due to COVID-19.

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 the U.S. exported a slight net positive petroleum products in recent months.

Oil imports averaged $34.72 per barrel in April, down from $47.09 in March, and down from $63.47 in April 2019.

The trade deficit with China decreased to $22.5 billion in April, from $26.8 billion in April 2019.