US: Goods and Services Trade deficit shrinks to $87.1B in April versus $89.5B expected

Joel Frank Independent Analyst

According to the latest data from the Bureau of Economic Analysis and US Census Bureau, the US Goods and Services Trade deficit shrunk to $87.1B in April. That was a little smaller than the expected decrease to $89.5B from $109.80B in March.

The Goods trade deficit was $107.74B in April and the Services trade surplus was $20.66B. In total, exports were up 3.5% MoM versus March at $252.62B, while Imports were up 4.9% $339.7B.

The US trade deficit with China fell to $30.57B from $34B in March. Finally, the average price of US oil imports rose to $94.99 per barrel in April, up from $87.20 one month earlier.

Market Reaction

Currency markets did not react to the latest US trade data.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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