US trade deficit widens in April
The Commerce Department today announced the US trade deficit widened to $40.3 billion (£27.5 billion) in April – a 16-month high.
The deficit was slightly lower than the $41.3 billion the market had forecast.
According to official figures, imports totalled $189.1 billion – down 0.4% on the previous month.
Meanwhile, exports were worth $148.8 billion – also down, by 0.7% on the previous month.
On annual basis, imports were up 23.9%, while exports grew 19.9% from April 2009. However, trade levels still remain well below the pre-crisis levels.
In the meantime, the trade deficit with Canada, the biggest US trading partner, widened 35.2% to $2.9 billion in April.
The politically sensitive trade deficit with China also widened 14.3% to $19.3 billion while the deficit with Japan narrowed 9.4% to $4.8 billion.