The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $46.2 billion in April, down $1.0 billion from $47.2 billion in March, revised.
Exports, Imports, and Balance (Exhibit 1)
April exports were $211.2 billion, $0.6 billion more than March exports. April imports were $257.4 billion, $0.4 billion less than March imports.
The April decrease in the goods and services deficit reflected a decrease in the goods deficit of $1.0 billion to $68.3 billion and a decrease in the services surplus of less than $0.1 billion to $22.1 billion.
Year-to-date, the goods and services deficit increased $20.8 billion, or 11.5 percent, from the same period in 2017. Exports increased $62.0 billion or 8.1 percent. Imports increased $82.8 billion or 8.7 percent.
Exports (Exhibits 3, 6, and 7)
Exports of goods increased $0.3 billion to $141.2 billion in April.
Exports of goods on a Census basis increased $0.3 billion.
Exports of services increased $0.3 billion to $70.0 billion in April.
Imports (Exhibit 4, 6, and 8)
Imports of goods decreased $0.7 billion to $209.5 billion in April.
Imports of goods on a Census basis decreased $0.9 billion.
Imports of services increased $0.3 billion to $47.9 billion in April.
Goods by Selected Countries and Areas: Monthly – Census Basis (Exhibit 19)
The April figures show surpluses, in billions of dollars, with South and Central America ($4.1), Hong Kong ($2.2), United Kingdom ($0.9), Singapore ($0.7), and Brazil ($0.6). Deficits were recorded, in billions of dollars, with China ($30.8), European Union ($13.2), Mexico ($6.0), Japan ($5.9), Germany ($5.6), OPEC ($3.3), Italy ($2.4), India ($2.0), Canada ($1.7), France ($1.6), South Korea ($1.3), Taiwan ($1.1), and Saudi Arabia ($0.9).
Updates to Goods and Services
In this release and in the accompanying “U.S. International Trade in Goods and Services: Annual Revision” release (FT-900 Annual Revision), the U.S. Census Bureau and the U.S. Bureau of Economic Analysis (BEA) are publishing revised statistics on trade in goods and services. With these releases, statistics on trade in goods on a Census basis are revised beginning with 2015, and statistics on trade in goods on a balance of payments (BOP) basis and on trade in services are revised beginning with 2010.
On an annual basis for 2010–2017, the goods and services deficit was revised less than 1 percent for all years except for 2017 when it was revised down 3 percent. The goods deficit was revised down for most years but revised up for 2011 and 2015. The services surplus was revised down for 2010–2014 and up for 2015–2017.
NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.