The US Department of Commerce reported that the US trade deficit in April increased by 23% compared to March last year and reached $74.6 billion.
Thus, the index recorded the highest level since December 2022, and this was due to a decrease in exports and an increase in US imports.
Total exports fell 3.6% mom to $249.0 billion in April, while U.S. imports of goods and services increased 1.5% to $323.6 billion.
The US trade deficit between January and April 2023 narrowed by 23.9% year-over-year to $275.55 billion.
Source: Interfax