April US trade deficit up

The April US trade deficit increased to $47.2 billion from $44.2 billion in March, according to data published in Thursday by the Department of Commerce. April exports of goods and services at $193.3 billion were $0.3 billion down on March, while imports increased by $2.7 billion to $240.6 billion.

The trade deficit in goods rose by $3.3 billion in March to $65.8 billion, while the services surplus increased $0.2 billion to $18.6 billion.

Goods exports fell by $0.6 billion to $135 billion, while imports rose $2.7 billion to $200.9 billion.

Services exports grew $0.3 billion to $58.2 billion, while imports increased by $0.1 billion to $39.7 billion.

Over the 12-month period through April 2014, the goods and services deficit rose $6.8 billion. Exports increased $5.6 billion (3%) while imports rose $12,4 billion (5.4%).

Trade in goods

The March-to-April decline in the exports of goods were broken down as follows:

  • Capital goods: -$0.3% billion,
  • Foods, feeds and beverages: -$0.3 billion,
  • Automotive vehicles, parts and engines: -$0.2 billion,
  • Consumer goods: $0.1 billion,
  • Industrial supplies & materials: +$0.2 billion,
  • Other goods: +$0.1 billion.

The March-to-April rise in the imports of goods were broken down as follows:

  • Consumer goods: +$1.1 billion,
  • Automotive vehicles, parts and engines: +$0.9 billion,
  • Capital goods: +$0.8 billion,
  • Other goods: +$0.3 billion,
  • Foods, feeds & beverages: +$0.2 billion,
  • Supplies & materials: -$0.3 billion.

The April 2013 to April 2014 rise in the exports of goods were broken down as follows:

  • Capital goods: $1.6 billion,
  • Foods, feeds & beverages: +$1.5 billion,
  • Other goods: +$0.6 billion,
  • Industrial supplies and materials: +$0.3 billion,
  • Consumer goods: -$0.4 billion,
  • Automotive vehicles, parts & engines: no significant change.

The April 2013 to April 2014 increase in the imports of goods were broken down as follows:

  • Consumer goods: +$3.2 billion,
  • Capital goods: +$3.2 billion,
  • Automotive vehicles, parts and engines: +$1.9 billion,
  • Foods, feeds & beverages: +$1.2 billion,
  • Industrial supplies & materials: +$0.9 billion
  • Other goods: +$0.3 billion.

Trade in services

The $0.3 billion March-to-April rise in the exports of services were broken down as follows:

  • Financial services: +$0.1 billion,
  • Transport: +$0.1 billion,
  • Changes in other categories were not significant.

The $0.1 billion March-to-April rise in the imports of services had no categories with increases of $0.1 billion or more.

The $1.8 billion (3.2%) rise in April 2013 to April 2014 services exports was mainly driven by travel (+$0.7 billion), maintenance and repair services (+$0.4 billion) and transport (+$0.3 billion).

The $1.6 billion (4.2%) rise in April 2013 to April 2014 services imports was mainly due to other business services (+$0.8 billion), travel (+$0.4 billion), and transport (+$0.4 billion).

US April trade deficit

(Source: US Department of Commerce)

Trade deficit/Surpluses with countries

April surpluses in goods were registered with:

  • Hong Kong: +42.7 billion,
  • Australia: +$1.4 billion,
  • Brazil: +$1.1 billion,
  • Singapore: +$0.9 billion.

April deficits in goods were registered with:

  • China: -$27.3 billion,
  • European Union:-$14 billion,
  • Germany: -$7 billion,
  • OPEC: -$6.7 billion,
  • Japan: -$6 billion,
  • Mexico: -$4.6 billion,
  • Saudi Arabia: -$4.2 billion,
  • India: -$3.1 billion,
  • Canada: -$2.7 billion,
  • Ireland: -$2.6 billion,
  • S. Korea: -$2.3 billion,
  • Venezuela: -$2 billion.

US March trade deficit had registered a decline.

 

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