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Trade Deficit Shrinks 19% In April Driven By Drop In Imports
After March's six-year high disastrous kitchen-sink trade deficit revised down to -$51.4 billion, April saw a bounce back to just $40.9 billion deficit (considerably lower deficit than the $44 billion expectation). The imporvment was driven by a big shift in imports - dropping 3.3% (after a 6.5% jump in March) as exports rose just 1% (which is still the most in 2015).
Charts: Bloomberg
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People don't have money to spend.
RECOVERY!!!!!
Did the Clinton foundation not recieve any funds in April?????
Sacre Bleu!
Driven By Drop In Imports
Because people with 29.5 hr/wk jobs don't have a lot of money to buy imported crap. Even from China.
That's why they load up all the auto loans they can to buy up every single car and truck in any lot.
Americans = broke.
Keep up with this current economic mess we're in, and the trade deficit will be 0, as no one will have money to import or export goods. Viva la Keynesians!
the new trade deals TPP and such will fix that and new highs in trade deficits will be made- at some point the .gov will have to rename deficits to: trade surplus debt credits. to change the reality of the effects of so called free trade.
Thank You Domestic Oil.
I haven't seen the actual breakdown of imports but my first thought was this, especially considering the dollar has a relatively high valuation.
Or maybe it's just that the Obamacare premiums have finally struck the consumer who is now wondering how they can pay for their God0given right to healthcare when it costs more than their mortgage as mine does.
BEA new math .... 19% shrink .... is a 1% increase ! (DEA Durden Economic Analysis)
Strange with such a strong dollar..we should be buying all kinds of crap....its cheaper now...
And with exports rising on a strong dollar? They must have applied the double seasonal adjustments backwards.
If we ain't importing, then we ain't consuming.
Sorry, Hilsen-shaft. It's our money and we are keeping it where WE can control it for when WE need it. Not your Federal Banking buddies...
News that US imports dropped will surely drive Chinese stocks to the moon!
More ghost cities will be popping up everywhere.
You have to know that the Chinese Stock market is not fundimentals....its all casino and riding the trend....its pure gambling..and the Chinese love it...as long as its going up..they will buy anything....just like their houses.....
Sounds like they are just like the US.
Imagine a time when lazy Americans suddenly decided to make real efforts to buy American goods. Instead of whining about umemployment and the hollowing out of cities, etc., they, with their newly found productive buying habits, begin to build pressure to hire,
The river of money flowing out of this country would shrink.
They used to blame the oil imports for the huge trade deficits. What are their explanations now? China is not quite ready to drop the US .There is still lots to feed on.
I'm pretty sure the drop in imports had nothing to do with dozens of Cargo Container vessels forced to anchor in Long Beach harbor. TPTB are clutching at straws.
Still a huge deficit. I don't care about against expectations. What a big pile of shit.
Global shipping is shrinking as evidenced by watching the Dow Transports and listening to shipping giants like Maresk... no big surprise.
http://www.globaldeflationnews.com/u-s-deflationary-evidence-continues-t...
The whole reason that we don't see inflation inside the country is that our trade deficity exceeds our budget deficit. All of those new dollars that the Fed creates when it buys treasuries go overseas, so we don't see an increase in the (local) supply of money.
When those dollars are no longer in global demand, they'll come home.