U.S. Goods Trade Deficit Hits Record High

27 April 2022

The goods trade deficit jumped 17.8% to an all-time high of $125.3 billion. Imports of goods accelerated 11.5% to $294.6 billion. They were boosted by a 15% surge in imports of industrial supplies, which include petroleum products.

Imports of consumer goods vaulted 13.6%, while those of motor vehicles increased 12.0%. There were also solid gains in imports of food and capital goods.

Exports of goods increased 7.2% to $169.3 billion. They were led by a 12.3% rise in exports of industrial supplies. Motor vehicle exports advanced 8.4%. There were also increases in exports of food, capital and consumer goods.

Source:  Reuters
Post by: Republic of Turkiye Ministry of Trade