11 Jun 2010

US trade deficit widens

6:13 am on 11 June 2010

The US trade deficit widened to a 16-month high in April, as imports and exports fell slightly. The total monthly deficit was $US40.3 billion, up 0.6% from March.

The Commerce Department says exports fell 0.7% from the previous month to $US148.8 billion, slightly faster than a 0.4% drop in imports to $US189.1 billion.

However, total trade volumes in April were much higher than a year ago, when international trade collapsed in the wake of the financial crisis.

Exports were up 19.9% from April 2009, while imports were up 23.9%.

But the BBC reports trade levels still remain well below the pre-crisis levels.