The US trade deficit recorded its largest decline in a decade in April, with exports reaching a level recordindicating that trade could contribute to economic growth in the second quarter of quest’year.
The U.S. Department of Commerce said on Tuesday that the trade deficit fell 19.1 percent, the largest decline since December 2012, to $ 87.1 billion.
Exports of goods and services increased 3.5% to $ 252.6 billion, the highest level ever.
A trade deficit record cut U.S. GDP by 3.23 percentage points in the first quarter, which led to GDP shrinking at a rate of 1.5% yoy after growing to a solid 6.9% in the fourth quarter of 2021.
Growth estimates for the second quarter indicate a high rate of 4.8% yoy.
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