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Wednesday, June 7, 2023 Services: 301-278-9003 Goods: 301-763-2311 April 2023 Trade Gap is $74.6 Billion U.S. International Trade in Goods and Services The U.S. goods and services trade deficit increased from $60.6 billion in March (revised) to $74.6 billion in April, as exports decreased and imports increased. The goods deficit increased $14.5 billion to $96.1 billion, and the services surplus increased $0.6 billion to $21.6 billion. Monthly Goods and Services Trade Deficit January 2014–April 2023 Billions of dollars 120 110 100 90 80 70 60 50 40 30 20 10 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 U.S. Bureau of Economic Analysis U.S. Census Bureau Seasonally adjusted current dollars Exports of goods and services decreased $9.2 billion, or 3.6 percent, in April to $249.0 billion. Exports of goods decreased $9.4 billion, and exports of services increased $0.2 billion. • The decrease in exports of goods reflected decreases in industrial supplies and materials ($6.1 billion) and in consumer goods ($1.7 billion). • The increase in exports of services reflected increases in travel ($0.5 billion) and in other business services ($0.3 billion). Decreases in financial services ($0.2 billion) and in government goods and services ($0.2 billion) partly offset the increases. Imports of goods and services increased $4.8 billion, or 1.5 percent, in April to $323.6 billion. Imports of goods increased $5.2 billion, and imports of services decreased $0.4 billion. • The increase in imports of goods reflected increases in automotive vehicles, parts, and engines ($2.0 billion), in industrial supplies and materials ($1.9 billion), and in consumer goods ($1.8 billion). • The decrease in imports of services reflected decreases in transport ($0.4 billion) and in travel ($0.2 billion). Real, or inflation-adjusted, statistics are also available for trade in goods. The real goods deficit increased 16.5 percent in April, compared to a 17.7 percent nominal increase. Real exports of goods decreased 5.6 percent, compared to a 5.3 percent nominal decrease. Real imports of goods increased 2.4 percent, compared to a 2.1 percent nominal increase. For more detailed information on trade by type of good or service and with major trading partners, see “U.S. International Trade in Goods and Services, April 2023.” U.S. Bureau of Economic Analysis statistics—including gross domestic product, personal income, the balance of payments, foreign direct investment, the Input-Output Accounts, and economic statistics for states, local areas, and industries—are available at www.bea.gov. E-mail alerts are also available. Note. The next release of U.S. international trade in goods and services will be on July 6, 2023. U.S. Bureau of Economic Analysis and U.S. Census Bureau
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