According to a report by Xinhua News Agency on June 7th, the data released by the U.S. Department of Commerce on the same day shows that the country's goods and services trade deficit rose to approximately $74.6 billion in April, influenced by an increase in the trade deficit in goods. This represents an increase of approximately $14 billion compared to the revised data for March.
Compared to March, the U.S. trade deficit in goods increased by approximately $14.5 billion in April, reaching around $96.1 billion. On the other hand, the trade surplus in services increased by approximately $600 million, reaching around $21.6 billion.
The data shows that in April, the decline in exports of crude oil and fuel oil, pharmaceutical preparations, and jewelry and accessories dragged down the total value of U.S. goods exports by $9.4 billion to $167.1 billion. However, due to an increase in imports of automobiles and parts, industrial supplies and materials, and consumer goods, the total value of goods imports increased by $5.2 billion to $263.2 billion for the same month.
Among the major trading partners of the United States, the goods trade deficits in April with the European Union, Mexico, and Vietnam were $17.3 billion, $13.0 billion, and $8.5 billion, respectively.
According to the data released on that day, the U.S. Department of Commerce revised the goods and services trade deficit for March from $64.2 billion to $60.6 billion.
The data shows that in April, the value of U.S. goods exports decreased by $9.4 billion to $167.1 billion, influenced by declines in exports of crude oil and fuel oil, pharmaceutical preparations, and jewelry and accessories. However, due to an increase in imports of automobiles and parts, industrial supplies and materials, and consumer goods, the value of goods imports for the same month increased by $5.2 billion to $263.2 billion.