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    Home ยป US Trade Deficit Shrank by $87.1 Billion in April as Imports Declines
    Forex News

    US Trade Deficit Shrank by $87.1 Billion in April as Imports Declines

    June 7, 20221 Min Read
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    US Trade Deficit
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    3.4%The US trade deficit contracted sharply in April as imports fell, signaling that trade could lead to economic growth this quarter for the first time in two years.

    • The trade deficit plunged 19.1% to $87.1 billion. Imports of goods and services declined 3.4% to $339.7 billion as exports rose 3.5% to $252.6 billion.
    • A record trade deficit reduced 3.23 percentage points from the GDP in Q1, leading to GDP contraction at a 1.5% annualized pace after growing at a strong 6.9% rate in Q4.
    • Trade has contributed to the fall in GDP for seven consecutive quarters.

    US merchandise imports dropped from a record in March, falling 4.4%, signaling a decline in inbound shipments of consumer goods, capital goods, automobiles, and industrial supplies.

    DXY up +0.13%, EURUSD down -0.09%

    Source: Bureau of Economic Analysis

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