WASHINGTON (June 8, 2012) — The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total April exports of $182.9 billion and imports of $233.0 billion resulted in a goods and services deficit of $50.1 billion, down from $52.6 billion in March, revised. April exports were $1.5 billion less than March exports of $184.4 billion. April imports were $4.1 billion less than March imports of $237.1 billion.
In April, the goods deficit decreased $2.7 billion from March to $64.8 billion, and the services surplus decreased $0.1 billion from March to $14.8 billion. Exports of goods decreased $1.5 billion to $130.7 billion, and imports of goods decreased $4.1 billion to $195.5 billion. Exports of services decreased $0.1 billion to $52.2 billion, and imports of services increased $0.1 billion to $37.5 billion.
The goods and services deficit increased $6.5 billion from April 2011 to April 2012. Exports were up $7.2 billion, or 4.1 percent, and imports were up $13.8 billion, or 6.3 percent.
Goods (Census Basis)
The March to April decrease in exports of goods reflected decreases in capital goods ($1.5 billion); industrial supplies and materials ($1.0 billion); and other goods ($0.6 billion). Increases occurred in foods, feeds, and beverages ($0.7 billion); automotive vehicles, parts, and engines ($0.4 billion); and consumer goods ($0.2 billion).
The March to April decrease in imports of goods reflected decreases in capital goods ($2.0 billion); industrial supplies and materials ($0.6 billion); other goods ($0.5 billion); consumer goods ($0.5 billion); and automotive vehicles, parts, and engines ($0.4 billion). Foods, feeds, and beverages were virtually unchanged.
The April 2011 to April 2012 increase in exports of goods reflected increases in capital goods ($2.2 billion); automotive vehicles, parts, and engines ($1.7 billion); consumer goods ($0.4 billion); other goods ($0.4 billion); and industrial supplies and materials ($0.2 billion). Foods, feeds, and beverages were virtually unchanged.
The April 2011 to April 2012 increase in imports of goods reflected increases in automotive vehicles, parts, and engines ($5.1 billion); capital goods ($4.0 billion); industrial supplies and materials ($2.1 billion); other goods ($0.4 billion); and foods, feeds, and beverages ($0.3 billion). A decrease occurred in consumer goods ($0.3 billion).
Services
Exports of services decreased $0.1 billion from March to April. The decrease was more than accounted for by a decrease in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services. Changes in the other categories of services exports were small.
Imports of services increased $0.1 billion from March to April. The increase was more than accounted for by an increase in other private services. Changes in the other categories of services imports were small.
The April 2011 to April 2012 increase in exports of services was $2.2 billion. The largest increases were in travel ($1.1 billion), passenger fares ($0.4 billion), and royalties and license fees ($0.3 billion).
The April 2011 to April 2012 increase in imports of services was $2.4 billion. The largest increases were in other private services ($0.8 billion), travel ($0.6 billion), and royalties and license fees ($0.5 billion). Within other private services, the largest increase was in business, professional, and technical services.
Goods and Services Moving Average
For the three months ending in April, exports of goods and services averaged $182.4 billion, while imports of goods and services averaged $231.8 billion, resulting in an average trade deficit of $49.4 billion. For the three months ending in March, the average trade deficit was $50.3 billion, reflecting average exports of $181.0 billion and average imports of $231.3 billion.
Selected Not Seasonally Adjusted Goods Details
The April figures show surpluses, in billions of dollars, with Hong Kong $3.3 ($3.0 for March), Australia $1.6 ($2.0), Singapore $0.7 ($0.9), and Egypt $0.2 ($0.2). Deficits were recorded, in billions of dollars, with China $24.6 ($21.7), OPEC $11.5 ($9.1), European Union $8.7 ($9.8), Japan $6.3 ($7.1), Mexico $5.4 ($6.1), Germany $4.6 ($5.5), Canada $3.3 ($3.0), Venezuela $2.1 ($2.7), Ireland $1.9 ($2.1), Korea $1.8 ($0.6), Nigeria $1.7 ($1.0), and Taiwan $1.3 ($0.7).
Advanced technology products exports were $23.7 billion in April and imports were $30.3 billion, resulting in a deficit of $6.7 billion. April exports were $4.2 billion less than the $27.9 billion in March, while April imports were $4.8 billion less than the $35.1 billion in March.
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