The US Census Bureau and the US Bureau of Economic Analysis, through the Department of Commerce, announced today that total April exports of $193.3 billion and imports of $240.6 billion resulted in a goods and services deficit of $47.2 billion, up from $44.2 billion in March, revised. April exports were $0.3 billion less than March exports of $193.7 billion. April imports were $2.7 billion more than March imports of $237.8 billion.
In April, the goods deficit increased $3.3 billion from March to $65.8 billion, and the services surplus increased $0.2 billion from March to $18.6 billion. Exports of goods decreased $0.6 billion to $135.1 billion, and imports of goods increased $2.7 billion to $200.9 billion. Exports of services increased $0.3 billion to $58.2 billion, and imports of services increased $0.1 billion to $39.7 billion. The goods and services deficit increased $6.8 billion from April 2013 to April 2014. Exports were up $5.6 billion, or 3.0 percent, and imports were up $12.4 billion, or 5.4 percent.
The March to April decrease in exports of goods reflected decreases in capital goods ($0.3 billion); foods, feeds, and beverages ($0.3 billion); automotive vehicles, parts, and engines ($0.2 billion); and consumer goods ($0.1 billion). Increases occurred in industrial supplies and materials ($0.2 billion) and other goods ($0.1 billion).
The March to April increase in imports of goods reflected increases in consumer goods ($1.1 billion); automotive vehicles, parts, and engines ($0.9 billion); capital goods ($0.8 billion); other goods ($0.3 billion); and foods, feeds, and beverages ($0.2 billion). A decrease occurred in industrial supplies and materials ($0.3 billion).
The April 2013 to April 2014 increase in exports of goods reflected increases in capital goods ($1.6 billion); foods, feeds, and beverages ($1.5 billion); other goods ($0.6 billion); and industrial supplies and materials ($0.3 billion). A decrease occurred in consumer goods ($0.4 billion). Automotive vehicles, parts, and engines were virtually unchanged.
The April 2013 to April 2014 increase in imports of goods reflected increases in consumer goods ($3.2 billion); capital goods ($3.2 billion); automotive vehicles, parts, and engines ($1.9 billion); foods, feeds, and beverages ($1.2 billion); industrial supplies and materials ($0.9 billion); and other goods ($0.3 billion).