The U.S. trade deficit narrowed in April for the first time this year, with imports falling as exports of goods and services rose.
The US trade deficit in goods and services narrowed 8.2 per cent to $68.9 billion in April, according to data released by the Commerce Department on Tuesday. The market is expected to have a deficit of $68.7 billion, compared with a revised deficit of $75 billion in March.
Us exports rose to $205 billion in April, the highest level since January 2020, while imports fell to $273.9 billion.
The data showed a decline in imports after consumer demand during the COVID-19 epidemic pushed U. S. imports to record highs. At the same time, the improvement in overseas economies has begun to boost demand for American goods and services. Us merchandise exports climbed to a record high.