The US trade deficit expanded slightly less than analysts expected in April, to the widest since late 2022, as imports rose more quickly than exports, according to government data released Thursday. This was the largest deficit since October 2022, according to official data.
The US trade deficit came in at $74.6 billion in April, widening from March's level, according to government data. Photo: JUSTIN SULLIVAN / GETTY IMAGES NORTH AMERICA/Getty Images via AFP/FileThe US trade deficit expanded slightly less than analysts expected in April, to the widest since late 2022, as imports rose more quickly than exports, according to
But with weaker global demand, there have been concerns that export growth would not be able to keep up. In April, imports grew by 2.4 percent to $338.2 billion, while exports rose by 0.8 percent to $263.7 billion, said the Commerce Department. Goods exports, meanwhile, also picked up but by a smaller degree, with a rise seen in products like pharmaceutical preparations and electric apparatus, data showed.
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