U.S. trade deficit narrowed in April

08.06.2012 19:15
U.S. trade deficit narrowed in April

YEREVAN, June 8. /ARKA/. The U.S. trade deficit narrowed in April, as a sharp pullback in imports and exports to the euro zone suggested the region's troubles are increasingly washing up on U.S. shores, according to news reports.

The U.S. deficit in international trade of goods and services decreased 4.9% to $50.06 billion from an upwardly revised $52.62 billion the month before, the Commerce Department said Friday. The March trade gap was originally reported as $51.83 billion.

Economists surveyed by Dow Jones Newswires had expected the gap to narrow to $49.4 billion.
Both exports and imports receded from record highs, with sales of U.S. goods and services abroad posting the biggest drop in five months. Exports declined 0.8% to $182.91 billion, while imports fell 1.7% to $232.97 billion.

With the euro zone teetering on the brink of recession, U.S. exports to the debt-laden region have fallen off. Sales to countries using the euro fell 9.8% in April, while imports declined 11.2%. The overall trade gap with the euro area contracted 14.1% to $7.56 billion. -0-


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