The Commerce Department said today the trade deficit jumped 16.7 per cent to US$49.4 billion. — Reuters pic
The Commerce Department said today the trade deficit jumped 16.7 per cent to US$49.4 billion . Economists polled by Reuters had forecast the trade gap increasing to US$49 billion in April. In April, exports dropped a record 20.5 per cent to US$151.3 billion, the lowest since April 2010. Goods exports plunged 25.2 per cent to US$95.5 billion, the lowest since September 2009. Exports of motor vehicles and parts fell to US$3.8 billion, the lowest since March 1992. Shipments of consumer goods dropped to USUS$10.4 billion, the lowest since April 2006.
Imports dropped a record 13.7 per cent to US$200.7 billion, the lowest since July 2010. Goods imports fell 13.6 per cent to US$167.4 billion, the lowest since November 2010.
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