US trade deficit narrows sharply in April

US trade deficit narrows sharply in April

The US trade deficit narrowed sharply in April as imports eased, suggesting that trade could contribute to economic growth this quarter for the first time in two years.

The Commerce Department said on Tuesday (7) that the trade deficit fell 19.1% to US$ 87.1 billion (R$ 416.6 billion). Imports of goods and services dropped 3.4% to US$339.7 billion (R$1.6 trillion), while exports increased 3.5% to US$252.6 billion (R$1.2 trillion). trillion).

A record trade deficit took 3.23 percentage points off gross domestic product in the first quarter, resulting in GDP contracting at an annualized rate of 1.5%, after growing at a robust 6.9% pace in the fourth quarter.

Trade has weighed on GDP for seven consecutive quarters.

Source: Reuters

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