The U.S. deficit in its foreign trade in goods and services narrowed in April to $68.9 billion, down 8.2 % from the record $74.4 billion recorded in March, the country’s Bureau of Economic Analysis (BEA) reported Tuesday.
In April, the value of U.S. exports rose 1.1% to $205 billion, while imports fell 1.4% to $273.9 billion.
Cumulatively for the first four months of the year, the U.S. trade deficit has soared by 50.4 % compared to last year when the American economy was crippled by the arrival of the pandemic.
The U.S. deficit in its trade in goods with China, which is highly sensitive to political events, narrowed in April to $32.4 billion, a decrease of $7.1 billion.
Meanwhile the negative balance with Mexico increased from $1.2 billion to $10 billion.
Global trade has picked up in recent months with progress in vaccination, especially in the United States and Europe, but supply chains are facing problems in adapting to the renewed demand, which has led to shortages of some products.