This morning the U.S. Department of Commerce issued its monthly report detailing the status of the United States’ international trade balance. Today’s data was for the month of April 2011. In April total U.S. exports amounted to 175.6 billion while imports totaled $219.2 billion, creating a deficit of $43.7 billion. This deficit represents a marginal decrease from March in which the monthly deficit totaled $46.8 billion.
Year over Year: The goods deficit in April was down $3 billion while the service surplus increased by $200 million. Since April of 2010 the monthly trade deficit has increased by $2.2 billion, due to rising imports of $30 billion versus rising exports of $27.8 billion.
Goods Exports: The increase in exported goods from March was due to a $2 billion increase in industrial supplies and materials (NYSE:XLB), a $1.2 billion dollar increase in capital goods, and $.3 billion dollar rise in consumer goods. Exports for Automotive vehicles, parts, and engines and industrial supplies and material declined by $2.5 and $1.8 billion respectively.
Goods Imports: Imports in April decreased from from automotive vehicles, parts, and engines ($2.8 billion), industrial supplies and materials ($1.5 billion), while there were increases in imported consumer goods ($2.1 billion) (NYSE:XLP), capital goods ($.6 billion), foods (NYSE:RJA), feeds, and beverages ($.4 billion).
Services: Service exports increased by .02% from March to April. This increase reflected “increases in travel, other private services, and passenger fares.” Since April of 2010 service exports have grown $5.3 billion, with the largest increases in other private services ($2.6 billion), and travel ($1.3 billion).
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