by Calculated Risk on 6/06/2019 08:50:00 AM

From the Department of Commerce reported:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.8 billion in April, down $1.1 billion from $51.9 billion in March, revised.

April exports were $206.8 billion, $4.6 billion less than March exports. April imports were $257.6 billion, $5.7 billion less than March imports.

Click on graph for larger image.

Exports and imports decreased in April.

Exports are 25% above the pre-recession peak and down 1% compared to April 2018; imports are 11% above the pre-recession peak, and up slightly compared to April 2018.

In general, trade had been picking up, although both imports and exports have weakened recently.

The second graph shows the U.S. trade deficit, with and without petroleum.

The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Oil imports averaged $57.16 per barrel in April, up from $53.10 in March, and up from $54.50 in April 2018.

The trade deficit with China decreased to $26.9 billion in April, from $27.8 billion in April 2018.