|
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.
|
 |
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 |
|
