US goods trade deficit narrows in April on strong exports

WASHINGTON: The ​U.S. trade ​deficit in goods contracted in ​April as a surge in exports more than offset rising ‌imports, a ⁠trend ⁠that if sustained could ​see trade contributing to economic growth ​in the second quarter.

The goods trade gap narrowed ​3.4% to $82.4 billion ⁠last month, the ‌Commerce Department's ​Census ​Bureau said on ⁠Friday. Economists polled by Reuters had ​forecast the goods trade deficit ​at $86.5 billion.

Goods exports increased $8.5 billion to $219.7 billion. Imports of goods rose $5.6 billion to $302.1 billion.


The ‌trade deficit subtracted 1.25 percentage points from gross ​domestic ​product in ⁠the first quarter. The economy grew at a 1.6% annualized rate ​last quarter after expanding at a 0.5% pace in the October-December quarter.