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Trade gap widens further in April

U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES



The gap between imports and exports expanded in April, as the nation's exports were held in check by the global slowdown, imports fell as well.
U.S. trade gap grew in double digits in April by 11.2 % to $49.4 billion, way below the recent high, recorded in December. The widening of the deficit in April suggests a downward revision of estimated gross domestic product, as falling oil prices were the main reason behind the lower imports, leaving more disposable income to spend on other goods and services, economists think.
International Trade (Picture Autor: Maurice Marcellin) licence Creative Commons
Declining oil price in April helped to moderate petroleum trade gap.

Imports from China, meanwhile, climbed to $31.1 billion in April from $19.8 billion in March. The trade deficit with the rising Asian giant increased $10.63 billion to $-22.5 billion in April. Country data are not seasonally adjusted.

Lawmakers and some business executives say China keeps its currency artifically low to boosts its exports.
Imports of Crude Oil

0.66% -20.99% -7.52% -30.89% -33.48% 3.22% 85.16% -86.80%
Imports
Imports
Imports
Imports

In April dropped by -13.56 %, as the United States decrease imports of Cars, parts, and engines, Royalties and License Fees. Unlike the overall trend, imports of Industrial supplies, materials and Other Private Services, increased.

The foreign trade picture continues to be one of weaker global growth constraining exports, and slow domestic spending limiting the pull for imports, some economists said.

The value of U.S. crude oil imports fell to $6.2 billion in April from $6.2 billion in March as the price of a barrel of oil fell to $57.2 from $61.9 in the previous month. The decline of imports was broad based, services fell -13.3 % and imports of goods declined by -13.61 %. U.S. Exports by Major Category








Pacific Rim Region has seen increasing demand from the U.S., where imports from Hong Kong grew the most, but imports from Philippines fell.
Imports from Mexico and Canada where lower in April.
Imports from europe fell, where purchases of oil and other energy-related products from Norway fell the most, but imports from Russia grew by 38.91 %.
Economists believe a slowdown in Europe will mean that U.S. exports may struggle, at the same time, Europe will seek to send more exports to the U.S.
Declining oil price was major drag on imports from OPEC (Organization of the Petroleum Exporting Countries).

From April 2019, U.S. trade gap narrowed by -2.7 %.

In April dropped by -19.42 %, as the United States decrease exports of Cars, parts, and engines and Other Private Services. Exports of Aerospace fell as well, by -55.29 % to $4.75 billions and , grew and , grew. Exports of Weapons increased also, up 88.14 % to $0.33 billions.
Economists are concerned that slowing demand from Europe may dampen U.S. export growth. The decline of exports was broad based, services fell -6.49 % and exports of goods declined by -25.44 %.

Demand for U.S. made goods fell in Brazil, Colombia and overall South and Central America.
Exports to europe fell, where sales to France have recorded the biggest decline, but trade with Other E.U. Countries grew by 42.01 %.
Sales of U.S. made goods, improved in the Pacific Rim Region, where exports to Hong Kong grew the most, but exports to Philippines fell.


U.S. Imports by Major Countries

Exports to Selected Geographical Region



Technology Group Exports Technology Group Imports Technology Group Trade Balance
Total Technology Group exports deacreased by $8,391 millions or -28.30 % to $21,257 millions from March 2020 , caused by decrease in exports of Aerospace goods by -55.29 % to $4,748 millions from March 2020. Exports of Information and Communication goods fell by $8,391 millions or -18.73 % to $5,679 millions.
Total Technology Group imports deacreased by $0 millions or 0.00 % to $0 millions from March 2020 , despite a decrease in imports of Electronics goods by 0.00 % to $0 millions from March 2020. Imports of Information and Communication goods fell by $0 millions or 0.00 % to $0 millions.

Imports by Technology Group
Total Technology Group trade deficit rose by $3,479 millions or 33.78 % to $13,778 millions from deficit of $10,299 millions March 2020. Information and Communications trade deficit rose by $2,464 millions or 24.53 % to $12,508 millions from deficit of $10,044 millions March 2020.

Trade Balance by Technology Group
Technology Group Exports
Total Technology Group exports deacreased by $8,391 millions or -28.30 % to $21,257 millions from March 2020 , caused by decrease in exports of Aerospace goods by -55.29 % to $4,748 millions from March 2020. Exports of Information and Communication goods fell by $8,391 millions or -18.73 % to $5,679 millions.


Technology Group Imports
Total Technology Group imports deacreased by $0 millions or 0.00 % to $0 millions from March 2020 , despite a decrease in imports of Electronics goods by 0.00 % to $0 millions from March 2020. Imports of Information and Communication goods fell by $0 millions or 0.00 % to $0 millions.

Imports by Technology Group

Technology Group Trade Balance
Total Technology Group exports deacreased by $8,391 millions or -28.30 % to $21,257 millions from March 2020 , caused by decrease in exports of Aerospace goods by -55.29 % to $4,748 millions from March 2020. Exports of Information and Communication goods fell by $8,391 millions or -18.73 % to $5,679 millions.

U.S. International Trade in Goods & Services

(In millions $)




U.S. International Trade in Goods & Services
(In millions $)
April 2020
March 2020
Feb. 2020
Jan. 2020
Dec. 2019
Nov. 2019
Total Trade Balance
-49,408 -44,415 -39,932 -45,338 -48,613 -43,086
Trade Balance of Goods
-71,837 -65,599 -61,212 -67,005 -69,652 -63,904
Trade Balance of Services
22,429 21,184 21,280 21,668 21,038 20,818
Total Exports
151,281 187,745 207,543 208,569 209,476 208,630
Exports of Goods
95,515 128,110 137,203 136,374 137,784 137,160
Exports of Services
55,766 59,636 70,341 72,195 71,692 71,470
Total Imports
200,690 232,160 247,476 253,906 258,089 251,716
Imports of Goods
167,353 193,709 198,415 203,380 207,436 201,064
Imports of Services
33,337 38,451 49,061 50,527 50,653 50,653



U.S. Trade Balance by Selected Countries and Areas
( In millions $)




U.S. Trade Balance by Selected Countries and Areas
( In millions $)
April 2020
March 2020
Feb. 2020
Jan. 2020
Dec. 2019
Nov. 2019
Total Goods
-70,752 -61,192 -47,565 -68,395 -68,395 -62,925
North America
-3,486 -11,651 -10,860 -10,334 -10,334 -9,726
Canada
-185 -1,593 -1,200 -2,836 -2,836 -1,435
Mexico
-3,302 -10,059 -9,661 -7,498 -7,498 -8,292
Europe
-23,694 -22,968 -11,370 -15,422 -15,422 -16,924
European Union
-15,281 -17,666 -9,955 -12,206 -12,206 -13,112
Austria
-619 -795 -585 -602 -602 -785
Belgium
281 783 1,157 1,040 1,040 1,201
Czech Republic
-188 -251 -181 -171 -171 -213
Finland
-232 -324 -217 -277 -277 -316
France
-1,498 -828 -243 -580 -580 -1,277
Germany
-4,342 -6,019 -4,088 -5,064 -5,064 -5,276
Hungary
-146 -231 -251 -280 -280 -365
Ireland
-4,597 -5,907 -3,983 -5,163 -5,163 -4,297
Italy
-2,212 -2,654 -1,879 -2,520 -2,520 -2,512
Netherlands
845 1,700 2,478 1,964 1,964 1,749
Poland
-278 -384 -266 -223 -223 -210
Spain
-375 -261 106 285 285 -162
Sweden
-539 -585 -649 -664 -664 -557
United Kingdom
-1,382 -1,909 -1,355 1,273 1,273 1,304
Other E.U.
4 -149 55 -1,223 -1,223 -1,396
Norway
-707 -1,370 -1,397 -118 -118 -64
Russia
-7,123 -4,772 -2,651 -1,485 -1,485 -1,335
Switzerland
-572 477 1,985 -1,872 -1,872 -2,303
Other Europe
-15 512 594 259 259 -109
Euro Area
-13,324 -14,975 -7,866 -11,368 -11,368 -12,059
Pacific Rim Countries
-36,877 -22,620 -22,198 -35,969 -35,969 -34,454
Australia
-556 1,052 1,446 791 791 1,315
China
-22,466 -11,834 -15,998 -26,065 -26,065 -26,366
Japan
-4,196 -5,566 -4,571 -4,984 -4,984 -5,450
Malaysia
-1,727 -3,120 -2,142 -2,288 -2,288 -2,318
Philippines
-85 -479 -206 -266 -266 -311
Newly Industrialized Countries (NICS)
-9,154 -9,658 -8,509 -10,913 -10,913 -8,275
Hong Kong
-675 1,984 1,777 1,652 1,652 2,034
Korea
-2,476 -1,818 -1,119 -1,232 -1,232 -1,433
Singapore
-1,126 124 759 -84 -84 745
Taiwan
-2,252 -1,687 -1,248 -2,120 -2,120 -1,684
Other Pacific Rim
-186 -144 55 -87 -87 55
South/Central America
2,807 5,130 5,556 4,931 4,931 5,869
Argentina
100 267 201 132 132 159
Brazil
682 1,527 1,746 1,398 1,398 1,650
Chile
-21 328 453 234 234 923
Colombia
156 506 375 111 111 445
Other South/Central America
1,889 2,502 2,780 3,056 3,056 2,692
OPEC
1,202 1,749 1,048 560 560 1,016
Indonesia
-1,131 -1,130 -952 -1,286 -1,286 -1,043
Nigeria
149 168 105 10 10 -27
Saudi Arabia
267 442 211 -227 -227 139
Venezuela
57 84 96 38 38 84
Other OPEC
730 1,055 636 739 739 821
Africa
-187 394 -172 -212 -212 90
Algeria
14 45 -35 -26 -26 -1
Egypt
253 319 196 159 159 168
South Africa
-551 -260 -262 -407 -407 -320
Other Africa
96 289 -71 63 63 243
Other Countries
-9,154 -9,658 -8,509 -10,913 -10,913 -8,275
India
-2,065 -1,853 -1,253 -2,110 -2,110 -1,778
Thailand
-1,996 -2,265 -1,322 -1,843 -1,843 -1,777
Other
-5,093 -5,539 -5,934 -6,961 -6,961 -4,720




U.S. Imports by Major Category
( In millions $)




Imports by Major Category
( In millions $)
April 2020
March 2020
Feb. 2020
Jan. 2020
Dec. 2019
Nov. 2019
Total
200,690 232,160 247,476 253,906 258,089 251,716
Total Services
33,337 38,451 49,061 50,527 50,653 50,653
Travel
595 698 716 716 742 792
Passenger Fares
3,572 5,720 8,630 9,138 9,299 9,114
Other Transportation
884 4,382 11,967 12,928 13,012 12,900
Royalties and License Fees
111 4,169 4,167 4,162 4,155 4,318
Other Private Services
4,929 2,662 2,792 2,858 2,816 2,913
Transfers Under U.S. Military Sales Contracts
3,251 4,887 4,879 4,862 4,838 4,940
U.S. Government Misc. Services
2,891 3,790 3,783 3,767 3,744 3,702
Total Goods
167,353 193,709 198,415 203,380 207,436 201,064
Foods, feeds, and beverages
12,062 12,926 12,488 12,893 12,291 12,238
Industrial supplies and materials
41,423 41,152 40,770 42,355 44,783 40,773
Capital goods, except automotive
48,171 53,215 51,719 55,426 56,064 55,406
Automotive vehicles, parts, and engines
13,345 27,779 30,509 29,105 29,777 30,114
Consumer goods
43,792 47,351 51,330 52,453 51,897 51,309
Other goods
7,552 9,965 9,811 9,525 10,915 9,719




Exports by Technology Group
( In millions $)


Exports by Technology Group
( In millions $)
April 2020

March 2020

Feb. 2020

Jan. 2020

Dec. 2019

Nov. 2019

Total Technology Group
21,257 29,648 27,549 27,575 32,949 29,637
Advanced Materials
229 269 222 191 215 221
Aerospace
4,748 10,619 10,170 9,292 13,920 11,001
Biotechnology
1,814 2,116 1,802 1,676 1,505 1,898
Electronics
4,244 4,397 4,016 4,346 4,222 4,047
Flexible Manufacturing
1,455 1,715 1,483 1,598 1,875 1,367
Information and Communications
5,679 6,988 6,638 7,350 7,657 7,415
Life Science
2,367 2,859 2,624 2,434 2,739 2,802
Nuclear Technology
107 80 71 94 88 142
Opto-Electronics
281 428 412 346 491 374
Weapons
333 177 112 247 236 369





Annual Report on U.S. International Trade in Goods & Services
(In millions $)




U.S. International Trade in Goods & Services
(In millions $)
2019
2018
2017
2016
2015
2014
Total Trade Balance
-52,113 -621,036 -566,031 -504,793 -531,503 -471,532
Trade Balance of Goods
-74,858 -891,251 -810,023 -752,507 -758,934 -703,159
Trade Balance of Services
22,745 270,215 243,993 247,714 227,431 231,627
Total Exports
202,575 2,499,970 2,329,311 2,208,072 2,230,317 2,272,320
Exports of Goods
133,614 1,671,839 1,551,434 1,455,704 1,513,888 1,590,350
Exports of Services
68,961 828,131 777,877 752,368 716,429 681,970
Total Imports
254,689 3,121,006 2,895,342 2,712,866 2,761,820 2,743,851
Imports of Goods
208,472 2,563,090 2,361,458 2,208,211 2,272,821 2,293,508
Imports of Services
46,216 557,916 533,884 504,654 488,999 450,343

Source U.S. Department of Commerce, BEA.gov
Picture Autor: (Maurice Marcellin) licence Creative Commons.


       
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