Economics
US Goods-Trade Gap Shrinks Most Since 2009 as Imports Drop
- Exports increase to record on foods, industrial supplies
- Inventories at wholesalers and retailers extend gains
U.S. merchandise imports decreased 5% from the prior month.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
The US merchandise-trade deficit shrank in April by the most since 2009 as imports fell amid lockdowns in China while exports increased to a record.
The shortfall narrowed by 15.9% to $105.9 billion last month, following a record level in March, Commerce Department data showed Friday. The figures, which aren’t adjusted for inflation, compared with a median estimate for a gap of $114.9 billion in a Bloomberg survey of economists.