US trade deficit widened 17% in April

The US Department of Commerce released data on the balance of goods trade, wholesale and retail stocks for April.

Accordingly, the goods trade deficit, which is called the leading foreign trade deficit, increased by 17 percent in April compared to the previous month and reached 96.8 billion dollars.

Market expectations were for the goods trade deficit to be $85.9 billion during this period. The goods trade deficit was recorded as $82.7 billion in March.

In the said period, goods exports decreased by 5.5 percent to 163.3 billion dollars, while goods imports increased by 1.8 percent to 260 billion dollars.

In addition, wholesale stocks decreased by 0.2 percent month-on-month in April, while retail stocks increased by 0.2 percent.