US Trade Deficit Narrows to $55.9 Billion as Exports Hit Record $327.1 Billion
Updated
Updated · Reuters · Jun 9
US Trade Deficit Narrows to $55.9 Billion as Exports Hit Record $327.1 Billion
3 articles · Updated · Reuters · Jun 9
Summary
$55.9 billion — the U.S. trade deficit narrowed 1.2% in April, beating forecasts, as exports climbed 2.6% to a record $327.1 billion and March's gap was revised down to $56.6 billion.
$221.3 billion in goods exports drove the improvement, with capital goods and petroleum both reaching records; higher oil prices and volumes linked to the Iran conflict lifted energy shipments.
$383.0 billion in imports still rose 2.0%, led by a $7.0 billion jump in capital goods such as computers, semiconductors and telecom equipment as businesses stepped up AI-related investment.
$12.0 billion — the goods deficit with China shrank by $2.6 billion as both exports and imports fell, while services exports slipped to $105.8 billion on weaker travel and transport.
3.0% annualized growth is the Atlanta Fed's current second-quarter GDP estimate, and economists said the narrower inflation-adjusted goods gap could let trade support growth after dragging on GDP for two straight quarters.