The US trade deficit widened for the second month in a row to $29.2 billion in April as exports decreased more than imports amid a global economic slowdown, the government said today.
The deficit rose from a revised $28.5 billion in March, the Commerce Department said. Most analysts had expected a $29 billion trade gap.
Exports decreased to $121.1 billion in April from $123.9 billion the previous month while imports decreased to $150.3 billion in April from $152.5 billion. Higher oil prices accounted for most of the modest increase in the deficit.
The politically sensitive deficit with China increased from $15.6 billion in March to $16.8 billion in April, with exports decreasing by $400m and imports increasing $700m.
