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U.S. International Trade Deficit Increases in April

Wed Jun 04 2014
Henock Kebede
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The trade deficit in goods and services increased $3 billion to $47.2 billion in April.  This reflects a decrease in exports by $0.3 billion to $193.3 billion, and an increase in imports of $2.7 billion to a $240.6 billion.  Among the contributors for this record import number are record imports for four goods categories (in billions of dollars): capital goods ($48.6), consumer goods ($47.5), Automotive ($27.2), foods, feeds and beverages ($10.8).  Check out our “Trade Highlights” page for more information.

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Staying with the import theme, did you know that so far in 2014, China alone accounted for over 72% of U.S. imports of computers? More information on this can be found in our “Graph of the Month” page.

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Lastly, as explained in last month’s blog, the following changes took effect this month:

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  • New Exhibit (Exhibit 20) – it has quarterly seasonally adjusted trade in goods and services on a balance of payments basis for select major trading partners.
  • Reclassification of goods to a BOP basis – net exports of goods under merchanting are reclassified as goods through a new balance of payments adjustment.
  • Changes to services – The number of service categories in Exhibits 3 and 4 will change and increase from seven to nine.
  • Revision to goods and services – the annual revision for 2013 includes corrections and adjustments to trade in goods on a Census basis beginning with 2011, and statistics calculated on a balance of payments basis beginning with 1999.

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More information on these changes can be found here.

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