April trade deficit increased to $63.4 billion

$762.5 billion
Expected US annual trade deficit in 2006, an increase of 6.4% from 2005

Total April exports of $115.7 billion and imports of $179.1 billion resulted in a goods and services deficit of $63.4 billion, $1.6 billion more than the $61.9 billion in March, according to the Department of Commerce.

Separately, U.S. Department of Labor reported today that U.S. Import Price Index advanced 1.6% in May, as higher petroleum and nonpetroleum prices both contributed to the May increase. Export prices rose 0.7% in May following a 0.6 percent advance the previous month.

  • The goods deficit increased $1.8 billion from March to $69.5 billion and the services surplus increased $0.2 billion to $6.0 billion. 

  • Deficits in goods and services were recorded, in billions of dollars, with China $17.0, Europe $11.2, OPEC $8.1, Japan $7.8, Canada $6.1, Mexico $4.9, Taiwan $1.3, Korea $0.8, and Brazil $0.6.

  • America's foreign oil bill rose  $1.44 billion in April to $23.8 billion.

  • Advanced technology products (ATP) exports were $19.8 billion in April and imports were $21.5 billion, resulting in a deficit of $1.7 billion. 

  • The deficit so far this year is running at an annual rate of $762.5 billion, 6.4 percent higher than the record of $716.7 billion set in 2005.

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