U.S. trade deficit falls 19% to $87.1 billion and comes off record high
Source: MarketWatch
Economic Report
U.S. trade deficit falls 19% to $87.1 billion and comes off record high
Last Updated: June 7, 2022 at 9:27 a.m. ET
First Published: June 7, 2022 at 8:39 a.m. ET
By Jeffry Bartash
Imports decline for first time in nine months
The numbers: The U.S. trade deficit shrank 19% in April to $87.1 billion as imports fell for the first time in nine months, signaling that trade wont weigh as heavily on the economys growth in the spring as it did early in the year.
The deficit narrowed from a record $107.7 billion in March the first time its ever topped $100 billion in a single month. ... Economists polled by The Wall Street Journal had forecast a $89.4 billion shortfall.
Exports rose 3.5% to a record $252.6 billion. ... Imports slid 3.4% to $339.7 billion. They hit an all-time high in March.
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Read more: https://www.marketwatch.com/story/u-s-trade-deficit-falls-19-to-87-1-billion-and-comes-off-record-high-11654605587
The data come from the Bureau of Economic Analysis.
Get details about the decrease in the U.S. trade deficit in goods and services in April; read our blog: https://go.usa.gov/xJkqu.
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roamer65
(36,747 posts)We arent importing as much because it wasnt in China to import is my guess.
multigraincracker
(32,736 posts)What are we selling overseas that went up?
mahatmakanejeeves
(57,664 posts)Exports of goods on a Census basis increased $6.0 billion.
Industrial supplies and materials increased $2.3 billion.
Natural gas increased $0.9 billion.
Other petroleum products increased $0.7 billion.
Other precious metals decreased $0.7 billion.
Foods, feeds, and beverages increased $2.2 billion.
Soybeans increased $2.1 billion.
Automotive vehicles, parts, and engines decreased $1.0 billion.
Civilian aircraft increased $1.3 billion.
Net balance of payments adjustments increased $0.1 billion.
Exports of services increased $2.4 billion to $76.5 billion in April.
Travel increased $1.5 billion.
Transport increased $0.3 billion.
James48
(4,443 posts)What are we selling that has gone up?
1. Oil. (And LNG - Europe buying as much as they can from us due to Russian war.
2. Airplanes. (Boeing resumes 737 exports).
3. Grain/food. (See Russian war and grain exports)
Stuart G
(38,453 posts)DFW
(54,448 posts)The euro only brought $1.047 in recent moths past. It now again buys $1.07, not a huge difference, but a change in the wind that international trade looks for.
mahatmakanejeeves
(57,664 posts)June 7, 2022
The U.S. monthly international trade deficit decreased in April 2022 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $107.7 billion in March (revised) to $87.1 billion in April, as exports increased and imports decreased. The previously published March deficit was $109.8 billion. The goods deficit decreased $19.1 billion in April to $107.7 billion. The services surplus increased $1.5 billion in April to $20.7 billion.
Exports
Exports of goods and services increased $8.5 billion, or 3.5 percent, in April to $252.6 billion. Exports of goods increased $6.1 billion and exports of services increased $2.4 billion.
The increase in exports of goods reflected increases in industrial supplies and materials ($2.3 billion), in foods, feeds, and beverages($2.2billion), and in capital goods($1.2 billion).
The increase in exports of services reflected increases in travel($1.5 billion) and in transport($0.3 billion).
Imports
Imports of goods and services decreased $12.1 billion, or 3.4 percent, in April to $339.7 billion. Imports of goods decreased $13.0 billion and imports of services increased $0.9 billion.
The decrease in imports of goods reflected decreases in consumer goods($6.3billion), in industrial supplies and materials($5.3 billion), and in capital goods($2.6 billion). An increase in automotive vehicles, parts, and engines ($1.4 billion) partly offset the decreases.
The increase in imports of services reflected increases in travel ($0.6 billion) and in other business services ($0.2 billion).
For more information, read the full release.
Warpy
(111,383 posts)It will pop up to a new record when Shanghai reopens for business and backlogged orders come in.
Corporations still haven't figured out that ordering stuff from halfway around the planet instead of paying people to make it here has its drawbacks.