The US merchandise-trade deficit fell in April by the most since 2009 as imports decreased amid renewed lockdowns in China while exports rose to a record.
- The shortfall shrank by 15.9% to $105.8 billion last month after a record level in March.
- In Q1, the widening of the trade deficit largely explains the economy’s bad performance since the pandemic bounces back started, with GDP shrinking at a 1.5% annual rate.
- US merchandise imports fell by 5% from the prior month to $279.9 billion, signaling declines in industrial supplies, consumer merchandise, and capital goods.
Exports increased by 3.1% to a record level of $173.9 billion in April, attributable to foods, capital goods, and industrial supplies.
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Source: US Census Bureau
