U.S. imports and exports both fell in April, with a larger drop in imports leading to a narrowing of the U.S. trade deficit for the month.
According to Commerce Department figures released Friday, the U.S. exported $182.9 billion worth of goods and services, while imports were tallied at $233 billion, resulting in a trade deficit of $50.1 billion.
While the resulting trade deficit of $50.1 billion is narrower than the $52.6 billion recorded in March, it is still wider than the $49.3 billion deficit level predicted by most economists.
Additionally, revisions to March figures put the trade deficit for that month at $52.6 billion, somewhat wider than the $51.8 billion initially reported.
Total exports for April fell by 0.8 percent from March levels, while overall import levels dropped by 1.7 percent.
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