Get all your news in one place.
100's of premium titles.
One app.
Start reading
AAP
AAP

US goods trade deficit narrows as exports surge

The US trade deficit in goods ‌contracted in April as a ‌surge in exports more than ‌offset rising imports, a trend that if sustained could result in trade contributing to economic growth in the ‌second ‌quarter.

The ⁠goods trade gap narrowed ​3.4 per cent to $US82.4 billion ($A115.2 billion) last month, the Commerce Department's Census Bureau said on Friday.

Economists polled by Reuters had ⁠forecast ‌the ​goods trade deficit at $US86.5 billion.

Goods exports ​increased $US8.5 billion ‌to $US219.7 billion.

Imports of goods rose $US5.6 ​billion to $US302.1 billion.

The trade deficit subtracted 1.25 percentage ​points ​from gross domestic ​product in the ‌first quarter.

The economy of the United States grew at a 1.6 per cent annualised rate last quarter after expanding at ​a 0.5 per cent pace in the ​October-December quarter.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.