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Thursday, June 6, 2024 Services: 301-278-9003 Goods: 301-763-2311 April 2024 Trade Gap is $74.6 Billion U.S. International Trade in Goods and Services The U.S. goods and services trade deficit increased from $68.6 billion in March (revised) to $74.6 billion in April, as imports increased more than exports. The goods deficit increased $5.9 billion to $99.2 billion, and the services surplus decreased $0.1 billion to $24.7 billion. Exports of goods and services increased $2.1 billion, or 0.8 percent, in April to $263.7 billion. Exports of goods increased $2.2 billion, and exports of services decreased $0.2 billion. • The increase in exports of goods reflected increases in capital goods ($1.9 billion) and in consumer goods ($1.2 billion). A decrease in industrial supplies and materials ($1.1 billion) partly offset the increases. • The decrease in exports of services reflected decreases in travel ($0.3 billion) and in financial services ($0.2 billion). An increase in other business services ($0.2 billion) partly offset the decreases. Imports of goods and services increased $8.0 billion, or 2.4 percent, in April to $338.2 billion. Imports of goods increased $8.1 billion, and imports of services decreased $0.1 billion. • The increase in imports of goods reflected increases in automotive vehicles, parts, and engines ($3.9 billion), in capital goods ($2.4 billion), and in industrial supplies and materials ($1.3 billion). • The decrease in imports of services reflected a decrease in transport ($0.5 billion). Increases in insurance services ($0.1 billion), in financial services ($0.1 billion), in other business services ($0.1 billion), and in charges for the use of intellectual property ($0.1 billion) partly offset the decrease. Real, or inflation-adjusted, statistics are also available for trade in goods (Census basis). The real goods deficit increased 5.3 percent in April, compared to a 6.2 percent increase in the nominal deficit. Real exports of goods increased 0.5 percent, compared to a 1.3 percent increase in nominal exports. Real imports of goods increased 2.4 percent, compared to a 3.1 percent increase in nominal imports. 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 2024.” 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 3, 2024.
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