US trade deficit dips to $68.9 billion amid improving global economy

The US trade deficit narrowed in April to USD 68.9 billion as an improving global economy boosted sales of American exports.

The April deficit, the gap between what America buys from abroad and what it sells to other countries, was down 8.2 per cent from a record March deficit of USD 75 billion.

The improving economic situation overseas drove up demand for American goods while domestic demand for imports slowed.

In April, exports of U.S. goods and services rose 1.1 per cent to $205 billion while imports declined 1.4 per cent to USD 273.9 billion.

Through the first four months of the year, the U.S. trade deficit totals USD 281.7 billion, up 50.4 per cent from the deficit during the same period in 2020, a time when the U.S. economy was essentially shut down because of the coronavirus pandemic.