The U.S. goods and services trade deficit grew to $74.6 billion in April, an increase from $68.6 million in March, according to data released Thursday by the Bureau of Economic Analysis.
Imports of goods and services increased by 2.4% to $338.2 billion for the month, with the imports of goods rising by $8.1 billion and the imports of services falling by $0.1 billion. The increases were reflected in automotive vehicles, parts and engines ($3.9 billion), capital goods ($2.4 billion) and industrial supplies and materials ($1.3 billion)
The exports of goods didn’t grow nearly as much, increasing by 0.8% in April to $263.7 billion. The $2.2 billion increase in the exports of goods were seen in capital goods ($1.9 billion) and consumer goods ($1.2 billion), though a drop in industrial supplies and materials ($1.1 billion) slightly offset the growth.
Additionally, the real goods deficit grew 5.3% in April, with real exports of goods increasing 0.5% and real imports of goods growing 2.4%. Nominal exports of goods rose 1.3%, and nominal imports increasing 3.1%.
