The trade deficit narrowed to $50.8 bln in April from a revised deficit of $51.9 bln (from $50.0 bln) in March. Exports of $206.8 bln were $4.4 bln below the March level while imports of $208.7 bln were $5.4 bln below the March total.
The key takeaway from the report is that even with the modest April decrease, the monthly deficit level has not changed much over the past year.
Exports of industrial supplies and materials decreased by $33 mln while exports of capital goods decreased $2.7 bln.
Imports of industrial supplies and materials increased by $612 mln while imports of consumer goods decreased $1.1 bln. Imports of cell phones and other household goods decreased by $403 mln.
The deficit with China increased $2.1 bln to $29.4 bln as exports decreased $1.8 bln and imports increased $0.3 bln to $37.9 bln.
The real trade deficit decreased by $1.1 bln to $81.9 bln in April.