US trade deficit narrows in April

The US trade deficit narrowed sharply in April, figures showed today, due to a record increase in exports.

According to the Commerce Department, the trade deficit narrowed to $43.7 billion from March’s figure of $46.8 billion – surprising analysts who had expected a rise to $48.7 billion.

Exports rose 1.3% on a monthly basis to a high of $175.6 billion, while imports fell 0.4% to $219.2 billion.

The politically sensitive trade deficit with China swelled to $21.6 billion in April, from March’s figure of $18.1 billion.

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